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gb1
Level 3

Cost Basis for RSU sold to pay taxes

Some RSU's vested last year. Part of this was automatically sold to pay taxes on the next day. I never sold any myself. It seems like all proceeds from auto Sale went to IRS & I assume it is reflected in my W2 as Fed Tax withheld. Hope I am right so far. Now, I imported all forms into TurboTax & it asks for review. Here are the questions:

Do these sales include any Employee Stock?

I assume No

Did you buy every investment listed on your 1099-B?

I chose Yes just to see what comes next.

Well, at this point, Cost basis is 0 on the form. TT wants me to confirm twice.

 

I just don't want to pay taxes for this since it's not a gain -- it is tax for some other gain. Otherwise, it would be like paying tax for tax. Bottom line: not a single dollar came to my bank account since I didn't sell any myself.

Thanks in advance for advice.

 

 

 

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