RSU selling to cover taxes

Mar 20, 2019 6 Comments

Hi Guys,

Newbie to RSUs and need suggestions to file taxes.
I got some shares vested and some percentage of it already sold to cover taxes by fidelity. I didnt sell any more shares myself.
I got 1099B, when I import this to HR block looking like it got all wrong and taxing me again.
Should i report this or not ?
If to report this 1099B, how to enter the cost basis ?

Any detailed explanation will be highly appreciated

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TOP 6 Comments
  • Aren’t RSUs reported on your W2? They sell 22%ish for taxes but you’re probably in the 35% bracket so you still owe the other 10%
    Mar 20, 2019 1
  • Nvidia
    shm

    Go to company page Nvidia

    shm
    Doesn’t your company withhold shares on vesting?
    Mar 20, 2019 2
  • Salesforce / Mgmt
    GQch66

    Go to company page Salesforce Mgmt

    GQch66
    I've dealt with this a few times. RSUs are granted and that taxable income is reported on your W-2. Stock is then sold to cover taxes. There may be a small gain or loss if the price moves between grant and trade execution/settlement. Confusingly, the 1099Bs don't seem to include the actual cost basis. In my case, RSU administrator (E-Trade) makes a separate download available that contains the actual cost basis and gain/loss. I then have to manually enter these into my tax program.
    Mar 21, 2019 0