Restricted Stock Units (RSUs) reporting

Forum|Forum|4 years ago
February 19, 2022
1 reply
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In 2021, I had RSU stocks vest and immediately sold.

I received my Form 1099-B; however, it notes the cost or other basis as Unknown. I just want to verify I am determining the cost basis properly for tax reporting.

- The sale and proceeds are listed on my W-2 as income.

- On the 1099-B it shows the proceeds - as an example I will say $20,200.

- I went to my paystub when the stocks were sold and see the amount as $22,200. The extra $2,000 is the commission for completing the sale.

On turbotax , I listed the total proceeds as $20,200 and the total cost basis as $22,200 thus my short-term sales with cost basis NOT reported to the IRS is negative (-$2,000).

I checked Box B - short term noncovered

Is this the proper way to report?

Any help is greatly appreciated!

RaifH

Level 10

Yes, for the most part. The only change I would suggest is leaving Box 1e Cost or other basis blank and then clicking the box beneath it that says The cost basis is incorrect or missing on my 1099-B. The next screen will allow you to enter your cost basis, which you correctly said would be $22,200 in your example.