Adjusted Cost Basis from ETrade

[SharneyL]

Hi - I'm trying to finish my taxes for this year.  I have RSUs that have vested and I also sold some in tax year 2021.  I have my 1099b and the supplemental from eTrade but I don't think I'm entering the information correctly in TurboTax.    I'm entering by each transaction to keep things straight: the date acquired/date sold, box1d for proceeds and then adjusted cost basis from supplement for box1e.   Next screen is Less Common items which I have none.   I then assume these are all considered sales whether vesting or the actual sales so I mark the next screen as a Sale of RSU - stock acquired through a stock plan.    Then I move on to the Enter Vesting/Release Information page.  I am lost on this screen as to what is needed.   Is this information required for both vesting and the sale or truly just the vesting?    I have tried entering info several different ways but I never come up with the same number that eTrade displays for the gain/loss on the supplement form.   Am I missing a piece of key information or am I using the Enter Vesting/Release page incorrectly?   Any help is greatly appreciated.   TIA 🙂 

[Country Apple]

It's a fairly complicated transaction because you've likely already paid some taxes through payroll when the shares were granted to you but you would need to calculate any gain/loss on the shares from the grant date to the sale date.  If you have all the info from your employer on your grant dates, number of shares granted, shares sold to pay taxes, fair market value of shares at grant date, etc. alongside the sale transaction data, then TurboTax makes it easy to record each transaction.

[AmyC]

Here is a video to help What are restricted stock units (RSUs) and how do I report them?

When the RSU vested, the fair market value was added to your w2 and was your immediate basis in the stock. Your employer may or may not have reported it (either correctly or at all) to the broker for a correct basis on the form. Click this link for more info on RSU Cost Basis. 

The IRS puts this in the employee's hands to track their own basis. I want to urge you to create a financial notebook that is kept separate from your tax return. Keep it safe and each year, add your year-end statements from all your financial accounts plus a copy of your W2’s. This will protect you down the road as proof of your basis in your various investments. As you go through life, rollovers, RSU basis and sales, and more will be captured for you.