Solved: Re: In the main Box 14 of the W-2 is a "memo" box ...
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donnablanchard
New Member

W2 Box14 Restricted Stock 7378.41, taxes are already taken out of these. How do I enter this?

Is this to be a Income Expense? Income Other?  What, I am not certain how to enter this.  It seems like it needs some kind of acknowledgement since they've inserted it. Hopefully an Expense!

Thank you

1 Best answer

Accepted Solutions
TomYoung
Level 12

W2 Box14 Restricted Stock 7378.41, taxes are already taken out of these. How do I enter this?

In the main Box 14 of the W-2 is a "memo" box where your employer attempts to communicate something to you.  Generally, entering a Box 14 amount, or not entering it, doesn't affect your income tax returns.  There are a few exception to this, but an RSU amount in this box is not one of them.

Your employer is simply telling you that amount is included in Box 1 of your W-2.  It's important to you if you sell any stock as your per share basis in the stock is: Box 14 dollar amount divided by the GROSS number of shares vested.

Tom Young

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5 Replies
TomYoung
Level 12

W2 Box14 Restricted Stock 7378.41, taxes are already taken out of these. How do I enter this?

In the main Box 14 of the W-2 is a "memo" box where your employer attempts to communicate something to you.  Generally, entering a Box 14 amount, or not entering it, doesn't affect your income tax returns.  There are a few exception to this, but an RSU amount in this box is not one of them.

Your employer is simply telling you that amount is included in Box 1 of your W-2.  It's important to you if you sell any stock as your per share basis in the stock is: Box 14 dollar amount divided by the GROSS number of shares vested.

Tom Young

View solution in original post

DB4001
New Member

W2 Box14 Restricted Stock 7378.41, taxes are already taken out of these. How do I enter this?

So I believe I have the same question as those who have posted here previously but I'm not sure I understand the answer. We have already paid taxes on the gross amount of the RSU in prior years, now we are selling the stock. The answer appears to be in the last sentence of this response from Tom Young. It appears we're supposed to take the dollar amount of the amount in box 14 on the w2 for the year granted, then divide it by the number of shares VESTED that year. What number does this provide and where do we input this number/figure in TurboTax under the RSU section?  Is this the estimated cost basis if it is not provided by my Broker? What is the advantage in figuring your own cost basis versus using what the brokerage service provides?

MarilynG1
Employee Tax Expert

W2 Box14 Restricted Stock 7378.41, taxes are already taken out of these. How do I enter this?

@DB4001 The Cost Basis for your RSU sale reported by your broker on a 1099-B can be incorrect for a number of reasons.

 

Click this link for more info on Selling RSU stock.

 

This links has details on Restricted Stock Units you may find helpful. 

 

 

 

[Edited 2/17/2021 | 3:43 pm]

 

 

 

 

 

 

 

 

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TomYoung
Level 12

W2 Box14 Restricted Stock 7378.41, taxes are already taken out of these. How do I enter this?

@MarilynG1 

"Your employer will send you Form 3922Transfer of Stock Acquired Through an Employee Stock Purchase Plan Under Section 423(c), if you purchased stock during the tax year."

Form 3922 pertains only to stock acquired via an ESPP.  It's not going to be issued for an RSU.

MarilynG1
Employee Tax Expert

W2 Box14 Restricted Stock 7378.41, taxes are already taken out of these. How do I enter this?

@TomYoung Thank you for pointing that out!

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