Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted May 18, 2020 10:14:30 PM

I was given Publix Common Stock as an employee I never bought stock what type of investment is that

0 5 5278
5 Replies
Expert Alumni
May 19, 2020 7:47:21 AM

It sounds like you are part of an Employee Stock Ownership Plan.  Did you sell this stock or why are you asking?  You do not need to report anything until you sell the stock.

New Member
May 20, 2020 11:29:45 AM

Yes I sold it I guess back to Publix.

Expert Alumni
May 20, 2020 12:08:30 PM

What tax forms did you receive?  did you receive a 1099-B?   If so, you will enter that under Investments - and be sure to answer yes when asked if this is employee stock.   Someone at Publix can confirm which type of employee stock you have if you are unsure; probably are RSUs.....   See the link below that describes the difference between Restricted Stock (RS) and Restricted Stock Units (RSUs).  

 

Even if you did not purchase it, the stock was probably included as income on your W-2 when it vested - that is your basis  in the stock which may not be reported on your 1099-B.  Make sure that you adjust your cost basis (TurboTax will walk you through this if you go through the employee stock interview) so that you do not end up over paying tax for the transactions.     

 

Form 1099-B (Proceeds from Broker and Barter Exchange Transactions) reports the sale of stocks, bonds, mutual funds, and other securities.

Here's where you enter or import your 1099-B in TurboTax:

  1. Open (continue) your return if it isn't already open.
  2. In TurboTax, search for 1099-B and then select the Jump to link in the search results.
  3. Answer Yes to Did you sell stocks, mutual funds, bonds, or other investments in 2019?
    • If you see Here's the info we have for these investment sales, select Add More Sales.
  4. Answer Yes to Did you get a 1099-B or brokerage statement for these sales?
  5. At Let's get your tax info, choose how you want to enter your 1099-B (import or type it in yourself).
  6. Follow the instructions.   Make sure to indicate that it is employee stock.  

Related Information:

 

What's the difference between restricted stock and a restricted stock unit (RSU)?   

How to Report RSUs or Stock Grants on Your Tax Return

 

 

 

 

Level 15
May 21, 2020 4:25:50 PM

Just to clarify, because on some state tax returns, it matters.

I was given Publix Common Stock.

No, you were not *GIVEN* anything. You earned it by working for Publix. So do you have a cost basis in it, which most commonly would be whatever it's market price was at the closing bell on the day you received that stock. You won't receive any tax paperwork on this (such as a 1099-B) until you sell the stock.

 

Level 13
May 21, 2020 5:26:40 PM

Publix is an Employee Stock Ownership Plan Company (ESOP).  This is essentially a company that is owned by the employees through a trust.

These structures are more complex than a typical stock ownership scenario.  An ESOP is really a tax-qualified retirement plan for the employees that invests in the sponsoring company stock.

The tax implications are more complicated than a normal stock sale and if you receive a distribution it is most likely reported on a form 1099-R.

I highly recommend you call the Publix Stockholder Services Group for guidance.  See the attached link:

https://www.publixstockholder.com/contact-stockholder-services