To clarify, were the TSRU stocks employee stocks?
Hello Dave,
Yes they were. The company went from issuing RSU's to issuing TSRU's. They still had a vesting period on them, they still took out the taxes upon settling, then issued the equivalent value of company stock into our saving plan.
It may be that you can report the TRSUs the same way you would report a restricted stock unit. However, you mentioned that your company deposited your stock into a "saving plan." Was that plan a type of retirement plan? We need some additional information about the nature of your company's saving plan because that information may influence the way in which the income needs to be reported.
Also, we assume that the "T" in RSU means Trustee, but if it means something else please provide that information.
@NS371
Hello George.
In our case, TSRU stands for Total Shareholder Return Units. On my brokerage statement, it shows as an Grant Type as RSU, with an Equity Award Type of Total Shareholder Return Unit. I did misspeak that the stocks were not deposited into a saving plan, but just into a standard account.
Thanks
Yes, go ahead then and report your TSRUs the same way you would report a restricted stock unit in TurboTax. If your TSRUs are similar to restricted stock units, your brokerage statement may reflect the basis for the TSRUs as zero. If that is the case, then you will need to make the appropriate adjustment. Generally, your basis will be the value of the TSRUs on the day they vested. Moreover, your W-2 should include the taxes that were withheld when the TSRUs vested.
@NS371