This post has been up for over a week with a lot of views but no replies. Perhaps I should re-word it as I am really struggling with this and its the only thing preventing me from filing...
My employee stock (RSU) has started vesting this year. On 5/15/20 I received a total of 42 shares, of which 15 were sole immediately to cover taxes. I ended up selling the rest of the remaining 27 in 3 separate sales throughout the year; 14 shares on 7/27, 10 shares on 9/21 and the remaining 3 on 11/10.
In addition to the 42 received on 5/15, 10 additional stocks vest every 3 months
- 10 on 8/15, of which 4 were sold to cover taxes. I then sold 4 of these on11/10 (2 remaining unsold from this grant)
- 10 on 11/15, of which 4 were sold to cover taxes (6 remaining unsold from this grant)
I am struggling with entering this information in TT. I imported my 1099-B from E-Trade and it lists the 7 sales stated above (3 of which were to cover taxes). In the imported 1099-B the "cost or other basis" is blank, which to my understanding is normal and I would have to calculate and enter the correct basis myself. It also states needs review for each of these sales.
I then go through the series of same questions for each of the 7 sales. I enter my calculated cost on each one (# of shares sold * market value per share at time of vesting). It then asks if this is Employee Stock. I select Yes and select RSU.
It then asks for "Enter Your Sale Information". This is simply the date sold and number of shares sold pre-populated. It then gives a quick summary of total proceeds calculated which match the 1099-b for that particular sale.
In the "Enter your Vesting (or Release) Information" page is where I am struggling. As my shares were sold in separate batches as well as the "Sell to Cover" sale also included in the 1099-B, how do I properly calculate the values to place in this page for each individual sale listed?
My W2 box 14 states 2368.16 in income from these 62 total vested stocks. From my own calculations of all these individual sales listed above I had a total LOSS of $11. I must be entering something incorrectly as after I enter everything in TT (from what I assumed was the correct method), its stating a total gain of about $800.
Can someone please assist in the proper method to enter all these RSU stock sales in TT?
