RSU sell to cover tax

[Jack Fu]

For example, I had 100 shares RSU vested, and company asked fidelity sold 24 shares to cover the tax on and I did not sell anything from these 100 shares, i see the transactions from 1099B for 24 shares. When I use TT,  on the "Enter Your Sale Infrmation" - "Your RSU sale with have a portion of shares reported as sold, and a portion that were traded to pay for the taxes withheld. ...." screen,

for "Number of shares Sold", should I put 24 or 0?

And then in the later screen "Enter Vesting (or Release) Information" screen, for "total shares vested/released", should I put 100 or 24? (if 100, then next year, I sell the other 76 shares, for the same field, should I put 100 again or 0)

for "Shares Withheld (Traded to Pay Taxes)" field, what I should put in?

[DavidD66]

You sold 24 shares to pay the tax on the 100 shares that vested.  You need to report the sale of 24 shares.  The correct cost basis is the value of the shares on the day they vested.  Your employer should have added that value to your W-2, box 1 Wages.  If they did include the value on you W-2, I suggest you report the sale of the 24 shares without indicating it was "Company Stock".  Report you sale according to your 1099-B.  If the broker reported the correct cost basis, you have nothing else to do.  If, they did not report the cost basis or reported the wrong cost basis, they you will need to adjust the basis.

[Jack Fu]

yes, company already included them as income on W2 and I know how to adjust the basis based on the fidelity's Supplmental Sotck Plan Lot Detail.  In this case, you are saying I can answer 'NO' for the question "was this sale of employee stock"? IRS will not care about the answer, and it is only for TT's calculation and usage, is that right?

[ThomasM125]

That is correct, as long as you report the correct gain and ordinary income then the IRS doesn't care that you are reporting restricted stock units transactions.

[shiyi11]

In this case, the gain is 0 right, the cost basis the same day of the fair market value. the proceed is the same day fair market value. so 0 gain

[Mike9241]

if the income they are adding to your w-2 for those units sold (your tax basis in them ) equal the sales price, no gain or loss.