Amazon RSUs sold for taxes, Fidelity 1099b shows no withholding

Aktana
coys57

Go to company page Aktana

coys57
Feb 18 16 Comments

Had a stock grant in November, and 5 RSUs were sold for taxes. I’m told both the income and withholding are reflected in my W2. So why has Fidelity issued a 1099b with only the sale amount? There’s nothing on there about the withholding towards taxes, so it looks like I made an additional 17k. If it’s on the W2, isn’t this reporting twice? Or should I amend the 1099b with the federal withholding I know was made at the time of the grant (that amount is visible on the receipt from the sale).#tax

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TOP 16 Comments
  • Google
    wut22

    Go to company page Google

    wut22
    The RSUs sold to cover taxes when vesting are usually on the W2 and not 1099. Your employer sells them and send the tax to the government. Fidelity shouldn't have anything to do with it.

    Disclosure - not a tax expert. Don't depend on my advice.
    Feb 18 1
  • NetSuite / Product
    NYTp77

    Go to company page NetSuite Product

    NYTp77
    This happens to me every year. There's a specific box on your form that Fidelity checks that says "cost basis not reported to IRS". When you fill out your taxes, you need to look up the cost basis (Fidelity will have this in transaction history) and enter it. Income and taxes are reported on your w2. The fidelity form will only report any capital gains/loss you made from the short window between when the stock vested and you sold (for me, usually a day, so only +/-1% or whatever).
    Feb 18 3
    • NetSuite / Product
      NYTp77

      Go to company page NetSuite Product

      NYTp77
      Yeah, amend the cost basis. Fidelity needs to report the sale of investment for capital gains purposes, but for some reason doesn't report cost basis for RSUs, and it's just 0 on their forms. So if (example) Fidelity reports sale of RSUs as 1,005 income, you should look up and enter the cost basis as 1,000 (or whatever it was the day it vested - available on Fidelity site in statements somewhere), so that you're only reporting the capital gains of 5. The income and taxes paid (usually by sale of some of your vested shares) is reported on your W2. Note that it could also be a capital gains loss if the stock price went down in the ~day it took to sell the newly vested shares.

      Disclaimer: not a tax professional, but a confident random Internet stranger who's been doing this for years
      Feb 18
    • Aktana
      coys57

      Go to company page Aktana

      coys57
      OP
      Appreciate the advice, thank you!
      Feb 18
  • Amazon / Eng
    wantntodns

    Go to company page Amazon Eng

    wantntodns
    Is it bad if the way that I handle this is to just not report the 1099B in turbo tax?
    Mar 26 4
  • Amazon
    toa4z3

    Go to company page Amazon

    toa4z3
    Don't listen to the garbage above from ppl that don't know the system you are operating under. Fidelity sold the stock. In my case I paid cash to the broker to pay the taxes and preserve my stock, Amazon is not accounting for that in W2. You need to contact fidelity. I've seen people have issues with this call fidelity!
    Feb 18 3
  • GoDaddy
    QTko64

    Go to company page GoDaddy

    QTko64
    The RSU cost basis is not reported to the IRS, godaddy uses E*TRADE And E*TRADE provides a supplemental statement that shows the true cost basis.
    Feb 18 0