Question: If the government already collected $30 basis + $3 gain on Jan 5, why am I being taxed on the $3 gain that was already sent to the government? Am I missing something?
You'll need to sign in or create an account to connect with an expert.
You do have a taxable capital gain since the shares increased in value after the vesting date, but when the vesting proceeds are reported on your W-2, you'll be credited for the full $33 (not just $30) of withheld taxes.
Just to expand on your question:
What if the stock sold to cover Federal Tax is not reflected on the W2 tax withholdings? How do you account for this when filing?
I was wrong about the Jan 5 activity, this is actually what happened, and now everything makes sense:
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
roseadelle22
New Member
usere95d6d1c
New Member
Gettxfin
Returning Member
caumick62
New Member
bwadhwani
New 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.