For the first time in my life, I have sold my RSU's from a long time ago I that I got from another company over a period of 5 years. It's been 5 years since, so I know I will fall under the long term capital gains tax bucket. My question is: During tax time, will the capital gains tax be calculated automatically by TurboTax or do I have to do anything regarding calculating it based on cost basis etc? i.e. Am I going to 'import' something from fidelity or Schwab and TurboTax calculates it for me automatically, or do I have to provide RSU batch numbers, cost basis and the tax witholdings that were made at that time for each vest?
Your brokerage will give you a tax form which lists everything from cost basis to profit. Hold some cash for tax and remember to pay your quarterly tax payments if you profited
India
4h
239
High earners in India - What's your vacation budget?
2024 Presidential Election
5h
825
Asylum seeker ties up two teenagers in NYC park, then rapes one of them, while the other kid is forced to watch
Tech Industry
Yesterday
639
Is Scale AI CEO another racists/MAGA?
Tech Industry
11h
952
Jealousy witnessing my same-sex crush get married. Yes I work at Nvidia but I have nothing else.
Tech Industry
Yesterday
2109
I created a fake female Tinder profile for experiment
Sometimes they do, sometimes they don’t. In some cases I had cost basis set to 0 after import, so had to fix that manually.
How the hell do you get all that historical data then?
I use HRBlock, but it should be similar in TT. It asks “did you sell any stock”, you click “yes”, then it says “let’s import the data”, and you follow the instructions.