I sold stock a mix of RSU, ESPP, and dividend reinvestments. I first transferred to a new bank, they are long term. I only have one 1099-B. How do I split this to enter?

[GeorgeM777]

On Form 8949, Sales and Other Dispositions of Capital Assets, which is the form that will list your RSU transactions, there is a column (g) which is where you can enter an adjustment to the gain or loss for the transaction at issue.  However, if you enter an adjustment in column (g) you will also have to enter the appropriate code in column (f).  Code B is the code to use when you are making an adjustment to basis (box 1e).  

In TurboTax online, on the page where you enter your RSU information, there is a box "The cost basis is incorrect or missing on my 1099-B."  If you check that box, on the pages that follow you will be given the opportunity to enter the basis you believe is correct.  

@lauriescag 

[lauriescag]

I don't have the online version and I never saw that screen BUT I deleted the whole thing and re-entered it all manually (did that the first time, then I deleted and transferred with import and corrected all the time periods but it didn't really work correctly) and then deleted again and entered manually and it worked this time. 🙂 Or at least it says 'short-term' or 'long-term' categorized correctly and although the amounts are not quite the same, its all on the W2 so I should be good. Or I will find out in 3 years if the IRS decides it isn't correct. Thanks for the help

[DianeW777]

If you believe the cost basis is very close to what you have recorded for each share then you should be good to go. 

Your W2s have the vested value included so this is your cost basis (plus any money you paid out of pocket if applicable). It is important for you to continue to track your basis with each block of stock you receive at each vesting period.

Keep all documentation for as long as you hold (do not sell) any vested shares. 

[hwisungi]

In my case, my broker (Fidelity) provided me with Form 1099B with box 1e (Cost or Other Bases) with a non-zero value, but with a letter "(e)" suffixed to the value.

When TurboTax imported this data from my broker, it recorded with no value filled in for the "Cost or Other Basis" in its Form 1099B, and in the "Quick Entry Table" for Form 1099B (in TurboTax Premier)

    1. "Basis Reported to IRS" set to "No",  ==> This may be the reason TurboTax left it blank

    2. "Reported on Form 1099B" set to "Yes" ==> So it seems IRS may have this value

My broker also provided "Supplemental Information" with "Adjusted Cost or Other Basis" for those sales with a bigger value than what they had in their 1099B.

So, in this case,

A. should I put any value other than zero in TurboTax's 1099B form for these sales?

B. If so, which of the two values should I put?

    b.1. the value in box 1e in broker-provided 1099B, OR

    b.2 the value in "Adjusted Cost or Other Basis" box in broker-provided "Supplemental Information"

C. If I put zero (or leave it as empty), or the value in above b.1 (i.e., non-adjusted cost basis) in to the TurboTax's 1099B, where can/should I correct (or adjust) the basis? It seems like I can do that through the "Quick EntryTable" for Form 1099B in TurboTax (Premier)? Is that the right place to make the adjustment?

[GeorgeM777]

Yes, you should not put zero as the cost basis for your RSUs.  It appears that your Supplemental Information is the more accurate document and thus, that is the form you should rely upon when entering the cost basis into TurboTax.  If you were to leave your cost basis at zero, you will likely pay a lot more in tax than is required.  Although, it may also be prudent to double-check what you see on the Supplemental Information.  If you know the date the RSUs vested with you, then you can use a third party financial website, such as Yahoo Finance, to check the prices on the Supplemental Information.

If you are using TurboTax online, there is the box The cost basis is incorrect or missing on my 1099-B.  Checking that box which will trigger TurboTax to give you the option to enter your adjustment to cost basis.  To enter your RSUs into TurboTax online, follow these steps:

1. Log into your account
2. Select Income & Expenses
3. Scroll down the page to Investment Income
4. Select Stocks, Cryptocurrency, Mutual Funds...etc
5. Respond to the questions.

Here is a TurboTax article that addresses RSUs: How to Report RSUs on Your Tax Return

@hwisungi