What information do I need to give to TurboTax to not pay twice for taxes on my RSU/ESPP

[lastcoolnameleft]

This is my first year selling Microsoft stock. I know that I have paid taxes on the receipt of the stock; however, I don't think that shows up in my Fidelity forms.

I want to make sure I don't pay double taxes for this. As I have been told many CPAs, including ones from Intuit don't understand how this works with Microsoft.

[AmyC]

Correct. For the RSU, the full market value at the time of vesting was included in your w2 and that amount probably needs to be added to the basis. The 1099-B sometimes contains the information from the company but not often.

For the ESPP, you received Form 3922 and the amount was included on your w2. It probably needs to be added to the basis, if the 1099-B does not include it.

The rules for qualifying statutory stock options (ISO and ESPP) are:

• One year after the stock was transferred to the taxpayer or
• Two years after the option was granted

I want to urge you to create a financial notebook that is kept separate from your tax return. Keep it safe and each year, add your year-end statements from all your financial accounts plus a copy of your W2’s, your  carryover information, and proof of your basis in your various investments. You must keep tax records  from the time you purchase until sold/ loss used plus 3 years. It is very easy to lose track of disallowed losses, carryforwards,  and basis.

This can be a digital or paper notebook.