What do I enter for Cost Basis for ETrade RSUs ?

[johnsantaclara1]

Dear experts, I sold my RSUs in ETrade in 2019. I tried uploading all my tax forms by logging in ETrade via TurboTax premier. TurboTax still asks me for Date Acquired and cost basis. I am able to enter Date Acquired from the supplemental ETrade form, but the cost basis for all my RSUs shows as zero. Should I enter Adjusted cost basis for them as shown when I login to ETrade. If not, where will I find the cost basis? Thank you!

[Country Apple]

You should be able to download/obtain additional information from your employer, which states the vesting date and the amount included in your gross income (I.e., your cost of the shares).

[TomYoung]

Using the "Stocks, Mutual Funds, Bonds, Other" interview enter the 1099-B exactly as it reads, including the "$0" cost basis shown on the 1099-B.  Then using the mechanism provided by TurboTax, enter the correct basis.  (On the desktop version you click "I'll enter additional info on my own" and on the new page that comes up enter the correct basis in the "Corrected cost basis" box.  Presumably the online versions have something similar.)

You'll end up with the correct gain or loss for your sale and Form 8949 will be filled out properly, showing the "as reported" basis of $0 and your adjustment of that reported basis.

[johnsantaclara1]

Thanks for the replies! Please confirm if "Adjusted Cost basis" in ETrade would be the right value to enter for Cost basis for my ETrade RSUs. Thanks again.

[TomYoung · Accepted solution]

I'd expect that Etrade would have the correct numbers in their supplemental information, but you should always verify that information, which is easy to do.  Your per share basis should be exactly the same as the per share "fair market value" used by your employer to calculate the compensation created by the vesting of the RSUs:

    Compensation = (GROSS number of shares in grant) x (per share fair market value used by employer)

The compensation should be disclosed to you on your W-2 and you know the gross number of shares in the grant so simple math will tell you the per share number used.