After reading through all the responses on how to figure out my Cost Basis, I was not sure I got this exactly right. Can you please confirm for me?
The following was imported from E*Trade:
Description: LIVERAMP HOLDINGS INC COMMON STOCK 22
Date acquired: 10/01/2019
Date sold or disposed: 03/08/2019
Type of Invest Sold: RSU
Sales category: Short-term
Cost basis: $0.00
I got this adjusted cost basis off my E*Trade Statement for the above sale, I entered this in TurboTax as my adjustment.
I calculated the cost bases as follows, this amount matched my statement as well.
Acquired FMV Rate: $49.41
Adjusted Cost Basis: $49.41*22= $1087.02
So on TurboTax Income & Wages Section, I see the total Gains/Loss Total of $182.94
Some of the initial amount of the RSU shares were sold to cover taxes at vest, and I acquired the remaining shares (22) on 10/1/18 ….. So, I am only taxed on the total Gains/Loss amount… is this correct?
This looks correct and how I've done it for years. You've already paid taxes at vest (sell shares to cover). So now you're only playing taxes on any gains that happened on the remaining shares between when they vested and you sold them ($182.94 in this case)
Other than one or the other of your dates being wrong - date acquired should be before date of sale - this all looks correct to me.
You'll enter the sale using the "Stocks, Mutual Funds, Bonds, Other" interview. No need to use the RSU "guided" interview here, you have all the information you need.