Premier Desktop 2023 - RSU interview missing

Forum|Forum|2 years ago
January 22, 2024
1 reply
5 views

The detailed RSU interview from prior years seems to have gone away in the 2023 edition. Could someone verify if this is true and provide instructions on how to enter RSU's that were vested with a sale of shares to cover taxes and reported on W-2 along with the value vested. By the way, this particular employer uses a UK based brokerage and does not issue 1099-B's.

Thanks in Advance!

AmyC

Level 15

Things have changed with the program but we have a video for how to enter RSU, see here. It sounds like you already know your basis in the w2 wages and if shares were sold to cover taxes, those would be included on your w2 federal tax paid.

Since you don't have a 1099-B, you will select to skip import and type in the information.

The account number and EIN are not required so just the name of the brokerage is sufficient. Continue

The program will ask about RSU, say yes and continue through.

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"

benefitssteveAuthor

Level 2

Thank you for that - yes, I viewed the video as well.

Just to verify though - the prior programs used to track shares sold for taxes and retained as well as verify the number in EE W-2 box 12 (amount included in income). Clicking RSU on the 2023 program doesn't seem to do any of that, it simply treats the sale of shares to cover taxes as one more ordinary sale of stock. Am I missing something?

DavidD66

Level 15

No, you're not missing anything. In prior years, the program made RSUs unnecessarily complicated. They are pretty straight forward. Once RSUs vest, the value on the date of vesting becomes earned income, just as if a cash payment was made. That amount is reported in box 1 of the employee's W-2. In some cases, the RSU vesting is an all cash transaction. In others, shares are issued which result in the sale of shares to cover tax withholding. The remaining shares may or may not be sold at that time. The sale of shares from RSUs is reported as an investment sale (just like other stock sales) on Form 8849 and Schedule D. The cost basis per share is the value per share at the time of vesting.

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"