You'll need to sign in or create an account to connect with an expert.
Clearly you are using the RSU step by step interview here, and doing it wrong. (Don't feel badly though, lots of people get tangled up here.)
There's no reason to use the RSU step by step interview unless you don't know your per share basis, (which is the same as the per share "fair market value" the employer used to calculate the compensation created by the vesting of the 84 shares), or if the W-2 income didn't get reported on the W-2. Neither seem to be the case here so one fix is to delete the trades you've entered and simply enter the trades (I'm assuming you got two 1099-Bs), using the "regular" TurboTax 1099-B entry form. Enter each 1099-B as it reads but then click on the "I'll enter additional info on my own" blue button. On the next page enter the correct basis in the "Corrected cost basis" box. The correct basis is (number of shares sold) x (per share "fair market value" used by employer).
TurboTax will report the sales on Form 8949 "as reported by the broker" but will put an adjustment figure into column (g) of the Form, a code "B" into column (f) of the Form, and the correct amount of gain or loss which includes the adjustment.
If you really want to use the RSU step by step interview, then tell TurboTax about 2 separate vestings: one for 35 shares and the other for 49 shares, putting nothing in either case in the box that asks about shares sold or withheld for taxes. That should give you the correct answer.
Typically a "same day" sale results in a small loss due to selling commissions and fees, though your actual results could be slightly above or below this amount if the per share selling price is higher or lower than the per share "fair market price".
Tom Young
Clearly you are using the RSU step by step interview here, and doing it wrong. (Don't feel badly though, lots of people get tangled up here.)
There's no reason to use the RSU step by step interview unless you don't know your per share basis, (which is the same as the per share "fair market value" the employer used to calculate the compensation created by the vesting of the 84 shares), or if the W-2 income didn't get reported on the W-2. Neither seem to be the case here so one fix is to delete the trades you've entered and simply enter the trades (I'm assuming you got two 1099-Bs), using the "regular" TurboTax 1099-B entry form. Enter each 1099-B as it reads but then click on the "I'll enter additional info on my own" blue button. On the next page enter the correct basis in the "Corrected cost basis" box. The correct basis is (number of shares sold) x (per share "fair market value" used by employer).
TurboTax will report the sales on Form 8949 "as reported by the broker" but will put an adjustment figure into column (g) of the Form, a code "B" into column (f) of the Form, and the correct amount of gain or loss which includes the adjustment.
If you really want to use the RSU step by step interview, then tell TurboTax about 2 separate vestings: one for 35 shares and the other for 49 shares, putting nothing in either case in the box that asks about shares sold or withheld for taxes. That should give you the correct answer.
Typically a "same day" sale results in a small loss due to selling commissions and fees, though your actual results could be slightly above or below this amount if the per share selling price is higher or lower than the per share "fair market price".
Tom Young
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
amacol
New Member
22BBC
New Member
johnsantaclara1
Level 4
digian
Level 1
SG835
Returning Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.