topic 1099B Box 1b and 1e empty for my Company RSU sales in Get your taxes done using TurboTax

1099B Box 1b and 1e empty for my Company RSU sales

tlzhu — Tue, 30 Mar 2021 20:52:06 GMT

I sold three batches of company RSUs with different vested dates. My 1099-B reports these sales in one transaction, with Boxes 1b and 1e, and Box 2 blank, and an "X" check for "Applicable check box on Form 8949". Also Box 5 has an "x". Turbotax tells me I must enter a date in Boxes 1b and a number in Box 1e. How should I do this? Thanks a lot.

Re: 1099B Box 1b and 1e empty for my Company RSU sales

DavidD66 — Tue, 30 Mar 2021 23:04:48 GMT

You need to either report the sales as three separate transactions, or indicate that you are entering category summary totals. If you enter a summary, you don't need to type in anything for the date purchased or the date sold. You will have to indicate whether your gain is long term (held more than one year) or short term. You will either report them as category B, or category E.

As for Box 1e, cost basis - For RSUs tax is assessed on the value of the stock on the day the stock vests/ is delivered. That amount is ordinary income, and is included in Wages on Box 1 of your W-2 for that year. Your cost basis is also the value of the stock on the day it vests or is delivered. The problem is, brokers don't have (or don't report) that information. If you know the amount that was added to your income, that is your actual cost basis. In order to keep from paying tax on the stock award twice, you have to correct your cost basis.

Re: 1099B Box 1b and 1e empty for my Company RSU sales

tlzhu — Wed, 31 Mar 2021 16:50:11 GMT

That's great. Thanks a lot.