Do we have to report the stocks sold while vesting to cover taxes?
Transferred RSUs from Morgan Stanley to Fidelity, didn’t sell shares except to cover taxes. Can’t see the tax forms in MS. Please suggest next steps what needs to be done. #tax #cpa
RSU value is reported in your W2 as income and the value sold is included in your taxes withheld.
Thank you! This is what I was looking for specifically
Nope it’s taxed only on the proceeds but if those proceeds show there is capital gain it will have to be reported and paid pending taxes short term or long term on those gains. You will get tax form from the brokerage
At the end of the year, You will get a 1099 from your brokerage that will show the cost basis of the transferred shares and a breakdown of all transactions and applicable capital gains/losses.
Wait, you sold shares last year to cover taxes? If so, any capital gains are taxable. It should be in your tax documents.
Nope, I chose the “sell stocks to cover taxes” while vesting
You can’t choose to sell shares. It’s mandatory to withold 22% federal
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