Do I need to file this 1099-B?

[avigo45]

Employer sold off stock to pay taxes and I received a 1099-B regarding this. The term and type is listed on the paper copy I received as  "B- Short-term transaction in which basis was NOT reported to the IRS".

Do I need to file this on my return?

The finance department at my employer basically told me I do not need to file it, however, in the past I have filed every 1099-B I have received. This one is just more confusing trying to figure out cost basis, etc. since this wasn't me (it was my employer) selling stock. 

Thanks

[Bsch4477]

All income must be reported. 

[DaveF1006]

Yes.  You must report the sale of stocks used to cover federal withholding.  The stock's cost basis is equal to the FMV of the stock at the date of vesting. This will be a considered a short-term sale and chances are the FMV and the price the stocks were sold at may be the same.

[avigo45]

Thank you. So even though the company sold stocks to pay for taxes (I did not sell anything) I still made income off of that transaction?

The FMV per share is listed. Do I multiply this number by the number of shares to get my cost basis?

I've been told multiple things and have gotten very confused. Somebody else said that my cost basis would be the number in box 14 on my W2 (that number is about three times as large as FMV x Number of shares sold)

Just very confused. My company and the broker have not been any help on how to get my cost basis. 

[avigo45]

I also forget to mention, these are stock options in a restricted stock plan. 

[MarilynG1]

Yes, multiply the FMV times the number of shares sold to get the Cost Basis.  There may be little to no difference between the Cost Basis and the Sales Proceeds, so it is just reporting.

Box 14 on your W-2 is informational only, and is referring to the wage portion, not the sales portion, so has nothing to do with the 1099-B. 

Here's more info on RSU's and Taxes you may find helpful.

@avigo45