This was turbotax doing tax weekend so here is some how to on something that really annoyed stock. I did not figure it out, my friend Bentley yes he is named after the car showed me how to do it. I am passing on the information to you. You kept the other shares and did not sell them. These are not real turbotax I made them up. Here is how you do it in Turbo Tax Premier. We both got lots of help from The Finance Buff. You sold for tax withholding. Then enter the sales price and it will restricted figure out your net proceeds. Here you enter first the total number of shares vested, which in this example isthen again date of vesting, Market price, commission, and the number of shares withheld for tax stock which is Stock Turbo Tax if the amount is on your W Most companies provide a W-2 breakdown. It seems the extra step-by-step guidance stock by TurboTax Premier created more stock than it helped. I wonder whether you would be better off if you turbotax Spreadsheet-Style Entry in Step 2. The only thing is doing the above ignores what is on your W This way you properly account for the amount on your W-2 so that restricted tax benefit stays about the same. No, the income on your W-2 is already accounted for when you enter the numbers from W-2 in the wages and salaries section. If you do it the short way, it will be the same. In either case, THANK YOU for clearing up the confusion. The step by step does help. TurboTax says that purchase commissions are not common. Besides, this would be commissions on the sale, not the purchase. TurboTax also appears clear that the Net Proceeds stock be the box 2 amount. One other thing I found out: I am still trying to understand why exactly. Can you look into this? Thank you for posting this, it is so helpful. The question that has kept me up at night is this: This website and TFB really helped me out last year when I was doing my tax return. In any case, here goes:. The last question of Step 7 shares withheld for taxes? There restricted wo reasons why I say this: Stock taxes paid are not reported on the B because they are reported already on the W Otherwise, you are reporting the tax that was paid twice comes turbotax in your favor but it is not correct. Now, when I fill in restricted the information exactly as options laid it out report sale of 12 shares restricted 5, turbotax question and also list those 12 shares as being withheld for restricted in step 7, I get and error from TT that I need an additional 7 shares to cover the ones that were sold. But what about the options that that sale was for tax. I wish Intuit itself had such clear examples as a part of TT Premier. How do I report this sale in using turbo tax since they are nearly 3 years later and in multiple sales? Do I need to report the withheld shares also — options so how since 2 years have past? This step is for reporting the withheld shares by your company…. I doubt you are in violation… because they withheld restricted share and put it as income on your w But not sure… ask a tax professional. Now the shares you sold now are exactly similar to buying shares 2 years ago and selling them now. Wow, this is a great page of information, as I am struggling with the RSU thing! I do have a scenario that TurboTax is not reporting correctly. On that day, my company withheld shares for tax purposes, so I was left with shares. In TurboTax I followed your directions above for the first transaction, as it is the turbotax scenario. For the second transaction, I put in the relevant sale info, and the same vesting lot information. Now, TurboTax is showing me as having an investment loss as it should for the year, but in the section where it asks if the RSUs are reportes on your W-2, I say yes, but TurboTax is saying that the amount options calculates is exactly twice what is on my W How do I fix this? Any help would be GREATLY appreciated. Thanks again for this info! Just FYI, I figured it out. I just had to put it in as one transaction, the day I actually sold remaining PSUs. When I did that, I could still specify the vest date, number taken out for taxes, etc. Hi, I believe for Turbotax, the above method does not work under the following conditions: A You got vested and did not sell all shares. This will match your W2 totals. D If you simply enter the RSU withheld as taxes in the calculation as a sale, then the calculation and the W2 total are going to be incorrect. Thank you again for the clarity. I just went through the hassle of trying to figure this out for the third year in a row and think I may have. To enter an RSU sell-to-cover transaction, calculate the number of shares sold not for taxes as the Net Proceeds plus the Commission and SEC Fees divided by the sell price per share not the market price needed later. Then, went entering the lot turbotax, subtract this fractional number of shares which may be one plus a fraction from restricted number whole number of shares restricted as sold options cover taxes from your turbotax and enter that amount as the number of shares sold to cover taxes stock TurboTax. TurboTax Premier had strange behaviors when I tried zero shares sold. So, I finally tried this and things look much more correct. Your comments above really helped me understand how to do this. I do stock two questions: In other words, do I again fill in the shares witheld for taxes exactly as I did for my STC? If I sell my shares in a later tax year as my STC took place, is the procedure the same? Getting involved with my taxes already and was reading your comments from this and prior years. My only comment about RSU and Turbo Tax is that TurboTax does fine when you have vested and sold in the same year. The difference of course is capital gains but Turbotax wants to treat the cost as compensation. You think you can simply treat the sale as a regular stock sale and restricted prevents you from doing so because it asks you how you obtained the stock. That was the price of couse that was used to compute your earnings which appeared in your w2 years ago. Does this make sense? Otherwise TurboTax wants to treat the cost basis as compensation and you were already taxed on that. What if you get to the last step and the amount TT computes does not match the amount from your W2? Thanks for the great tip. Was banging my options with Turbo Tax when the Restricted info was not matching. You really saved the day. I options RSUs granted investing inthat I sold in Your email address will not be published. Get info on Steiner Ranch real estate: Your key to the land between the lakes. Click On Step by Step Guidance Step options Identify the Employer… this might not show up if you are single. Then enter the sales price and it will automatically figure out your net proceeds Step 6: Stock probably did not split, right? No reinvested dividends, right? You are almost done… one last thing Step April 7, at April 7, at 7: April 7, at 9: April 8, at 1: April 13, at 7: April 14, at Can you enter that in Step 7 — Purchase Commissions or Fees Paid? April 15, at options February 25, at NY from Austin says: April 6, at 5: In any case, here goes: April 11, at April 15, at 1: March 5, at March 15, at turbotax Thank stock very much for all your tips — I really learnt a lot. Here is my situation: Any help will be much appreciated. March 15, at 9: VR… This step is for reporting the withheld shares by your company…. March 22, at March 22, at 4: March 23, at 1: January 14, at 5: Mike in NJ says: February 6, at turbotax February 9, at 4: February 15, at April 10, at April 17, at 6: Leave a Options Cancel reply Your email address will not be published. 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