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Box 14 W2 RSU other
w2 box 14 The company paid tax for RSU restricted stock units. It is important that Turbotax allows to enter RSU and the amount in box 14. The system wants me to enter Other. I do not think that is correct. RSU must appear on the screen as it is printed on W2 box 14. Company sold RSU shares to pay for federal income tax. Please review box 14 and discuss with CPA about this issue.
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Box 14 W2 RSU other
You are wrong in your assertions.
First, Box 14 on the W-2 is, in the main, only a "memo" box. It's a box where the employer provides some additional information to the employee about what the employee is seeing on the W-2. Generally entering Box 14 information, or not, does not affect your income tax return.
Second, Box 14 in this case should be reporting the compensation created by the vesting of the RSU, not the taxes withheld.
Third, your employer almost certainly did not pay the "employee" portion of any taxes withheld. Almost certainly "you" paid those taxes and "you" paid those taxes by selling some of the stock you received. The cash raised by the sale of stock "for taxes" gets passed back to your employer, who pays the government(s), and those payments are included on the various "taxes" boxes of the W-2, though these amounts are typically not separately reported to you in Box 14.
IF you somehow think that these taxes need to be reported again somewhere in your income tax return, (which you can't do), because your tax liability increases dramatically when you enter the sale of the stocks "for taxes" in your income tax return THEN your problem is that you are using the wrong basis in reporting the sale. The correct basis is not the $0 the broker is almost certainly reporting on the 1099-B, the correct per share basis is the same as the per share "fair market value" used by your employer in calculating the compensation created by the vesting.
Tom Young
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Box 14 W2 RSU other
How and where to add the adjustment of vested RSU cost basis when part of your vested shares already taken as tax ? Is this just a matter of reporting to IRS or actually can change your amount owed ? For my case is same day sale.
Under investment section ? or modify directly to box 2 (Fed Income withheld) - under W 2 section which I believe is not the right way ?
Thanks in advance !
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Box 14 W2 RSU other
Your reply is very informational. But it is odd that turbo tax does not recognize RSU and replace it with Other.
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