Fidelity no cost basis on RSU vested
Working on my tax return and noticed that cost basis on all RSUs that I’ve sold shows as 0 on 1099. This is obviously wrong as it should indicate price at the time of vest so I don’t pay tax twice. I’ve spent a while trying to find this info on fidelity website, bit it’s so bad and I feel this info is just not there at all. Did anyone have a similar problem or know how to find freaking cost basis?
There should be a supplementary document somewhere on the site that has all the cost basis. This is true for a number of platforms, E*Trade etc
This^ I was literally in the same boat as you today OP and I was freaking out. I was like Im pretty sure I sold some RSU at a loss so why is it not showing up. Well as @Mr Shat stated, you can find out all cost basis in the supplement doc so dont be worried. It should ideally be attached with your 1099 cons. Altho its mind boggling that they just cant do the cost basis automatically for us.. I mean how hard is it? Oh well, Happy Taxing 🙃
Thanks. Seriously, this should be automated.
Welcome to stupid tax laws. Brokerages used to simply send that data to the IRS for you, and now that's no longer legally allowed. You will have access to the data you need in order enter that on your taxes. It's annoying.
What law is that? My meta RSUs are automatically setup with the right cost basis on vest and in tax forms
Etrade similarly gives zero cost basis 1099s for Apple RSU vests. I asked them about it and they said IRS rules blah blah Now I’m at Meta and Schwab gives me my 1099s with the correct cost basis :)
Went through this also, but it's not in fidelity, it's in payroll. It's on your W2 rolled in your tax section. They issue a separate paystub for each vest and you can verify there if it adds up. From Fidelity's pov they just got a wire transfer of x value that they have to do something with. That establishes the cost basis. If you told fidelity to keep your shares, then they bought an amount in value on that day. Unless you sell, there's no cost basis realized yet.
Yeah, found it, however that sounds terrible as folks that leave the company won’t have access to payroll website anymore. Looks like there is also a way to get this info from fidelity too. Such an awful UX.
Hey OP could you share how to do that from fidelity website. Struggling to get the same
I haven’t done it from fidelity, but there is a comment above that describes how.
Uber like many other companies must be organizing a seminar that explains how to file taxes. You should attend it for clarity.
You must be new in US and filing tax for first time. You have to put that value yourself.
That’s not true. In most cases the cost basis is correctly recorded.
Ya if you work for Meta your 1099 cost basis for vested RSUs is correct. Not the case for other companies