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22BBC
New Member

Long term Gain - No Cost basis (former RSU's sold)

I have imported stock sales from Fidelity.  One of long term stock transactions does not show a cost basis.  This stock was formerly RSU's which when vested I paid taxes in 2021 and shares were deposited (as shares)  in my Fidelity account.  I sold some of the shares in 2023 but there is no cost basis when I imported the 2023 tax report 1099B.  

 

How can I update the form 8949 and schedule D to reflect the cost basis?  Based on how it loaded, It appears I am paying taxes again on these shares rather than the delta of value date vested to the value date sold.  

 

There doesn't seem to be an edit option.  Appreciate your help.

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1 Reply
ThomasM125
Expert Alumni

Long term Gain - No Cost basis (former RSU's sold)

You need to edit that entry in the Investment Income section of TurboTax, then Stocks, Cryptocurrency, Bonds, Mutual Funds, Other. Find the investment sale you need to edit in the Your Investment Sales summary and click on the Review tab:  

 

 

On the stock sale screen, indicate that the cost basis is missing or incorrect and you will have an opportunity to enter the correct cost basis. A simple way to determine the cost basis of your RSU shares sold is to divide the income for the RSU's as reported on your W-2 form, plus any additional money you may have spent to acquire them, by the number of shares acquired. That will give you the cost of the shares that you can then multiply by the number of shares sold to arrive at their cost basis.

 

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