The RSA grant was in 2014. The RSU grant was in 2015. I cashed them both in last year through Fidelity and received the 1099-B form. It shows it as long term transactions for which basis is not reported to the IRS. However I know the basis for both grants and entered it into Turbo Tax Deluxe. After doing this, it shows my long term gain as several thousand dollars. However, Turbo Tax seems to be saying that I don't have to pay taxes on this amount as my Federal Refund stayed the same. Is this correct?
It can be, if you happen to be in the lowest two tax brackets (including LTCG) because LTCG is taxed at 0% for those two brackets. But if you're really using a desktop version, you can certainly answer your own question. Go into Forms Mode, open your Form 1040, and look and see how the tax was calculated. The worksheet used - probably the Qualified Dividend and Capital Gains Tax Worksheet - is available to you.
Tom Young
It can be, if you happen to be in the lowest two tax brackets (including LTCG) because LTCG is taxed at 0% for those two brackets. But if you're really using a desktop version, you can certainly answer your own question. Go into Forms Mode, open your Form 1040, and look and see how the tax was calculated. The worksheet used - probably the Qualified Dividend and Capital Gains Tax Worksheet - is available to you.
Tom Young