RSU Vesting : Tax Implications

[sp3]

When my RSU's vested in 2018, my company withheld a portion of the vested RSU's for tax withholding. I have not sold any of the vested RSU shares. When I enter my 1099B details in TT, I get slammed with additional taxes. Do I need to report my 1099B details in TT, even if if my RSU vesting and withheld share taxes are already reflected in my W2?

[LynB · Accepted solution]

Yes you do need to report your RSUs that are reported on 1099B on your tax return.  The 1099B is reporting the shares sold in 2018 to pay the taxes on the vested stock.  The sale of the RSUs should have little impact on your tax liability since the amount reported on your W-2 is the stock market value at the date sale.  I think the reason you are getting "slammed" is because the cost basis was not reported on the 1099B.  The amount that was included as income on your W-2 should be entered as the cost basis line for this stock sale.