Hello Everyone! Just as a reminder if you have a question about TurboTax or filing I will be doing these Live Streams every Monday at 4PM PST. Be sure to stop by and ask your question in chat so I can help you out! If you want to help our channel outplease use TurboTax through our link! Our TurboTax Link: www.tkqlhce.com/click-100683865-11557904?url=https%3A%2F%2Fturbotax.intuit.com%2Flp%2Faff%2F4049%3F%26priorityCode%3D6099000412
I went through 3 TurboTax live “experts” to help explain and walk me through this and none of them were familiar with inputting RSUs nor had any idea of what the supplemental info was. I found your video and I learned so much more. Thank you for the clear explanations!!!
Thank you so much for taking the time to explain the reporting process so accurately and so expertly! I am impressed with how you show the Excel spreadsheet how it helps to reconcile because that helped me so much! It is so awesome that you are taking the time to help us "common" people! Thank you Anthony!
This video is a godsend. Found out I was paying 1500 dollars more in taxes due to the wonky nature of the 1099 forms! Calculating the adjusted cost basis helped me save this money.
I've been working for a big company that provides stock at a part of the compensation and benefits for 6 years. I wish I had researched the tax implications sooner, but I have learned lessons the hard way. This video is comprehensive and extremely helpful for someone in my position. Thank you
My W2 does not have "restricted stock" clearly listed like this example. Box 14 does have a number that matches the ESPP but not the RU. Where else would this be clearly seen on the W2? TY
If you input the transaction as a summary you get a different form. It would be nice if you showed how to input that way. If you aggregate, you need to mail in a bunch of stuff it appears
Thank you, this is very helpful! Please correct me if my interpretation is wrong, but for the RSU scenario the basis wasn't reported to IRS (check box B), looks like we shouldn't need to make any adjustments. Instead, we could just use the total adjusted cost basis directly in the "Total Cost or other basis" of TurboTax. As the form 8949 instruction says: "If this transaction is reported on a Part I with box B checked at the top or if this transaction is reported on a Part II with box E checked at the top, enter the correct basis in column (e), and enter -0- in column (g)."
Does the amount on my last paycheck under other listed as Stock Off has to be the same as the total on the transaction supplement under adjustment cost basis?
just wonder, I am a tutor, so the registration for CFA exam can be treated as a work related education expense, deducted on SCH.C, right? but not sure for which type expense I should classify? thanks
Im no longer in US and hence i will not get W2.But as i sold some shares which were acquired through espp last year,i got 1099-b form through post ? How do i proceed in this case ?
@EA Tax if we exercise stock options ,,,is this same fix for as ESPP ? Can you do a more detailed info on exercising Options , employer sold some stocks from the options to pay for the stock….then we sold remaining exercised option and cashed in ….how taxes are correctly reported . Thanks Reply
Hey! I will be going over your comment in my upcoming livestream! Hope this helps! If you have any other questions I go live every Monday at 4P.M. PST. czcams.com/users/liveSHkqV4_UN90
Hi Anthony, I have a question. I got RSU that were taxed on my W2 for an amount of $3700. However, on the 1099B supplemental it only shows $2500 ordinary income. I was able to make the adjustment on the 1099B based on the supplemental 1099B. What should I do with the difference if there is no more RSU listed on the 100B that matches the difference?
Hey! I will be going over your comment in my upcoming livestream! Hope this helps! If you have any other questions I go live every Monday at 4P.M. PST. czcams.com/users/liveSHkqV4_UN90
Hello Everyone! Just as a reminder if you have a question about TurboTax or filing I will be doing these Live Streams every Monday at 4PM PST. Be sure to stop by and ask your question in chat so I can help you out!
If you want to help our channel outplease use TurboTax through our link!
Our TurboTax Link: www.tkqlhce.com/click-100683865-11557904?url=https%3A%2F%2Fturbotax.intuit.com%2Flp%2Faff%2F4049%3F%26priorityCode%3D6099000412
I went through 3 TurboTax live “experts” to help explain and walk me through this and none of them were familiar with inputting RSUs nor had any idea of what the supplemental info was. I found your video and I learned so much more. Thank you for the clear explanations!!!
Glad I could help!
Thank you so much for taking the time to explain the reporting process so accurately and so expertly! I am impressed with how you show the Excel spreadsheet how it helps to reconcile because that helped me so much! It is so awesome that you are taking the time to help us "common" people! Thank you Anthony!
Thank you so much for the kind words! I am glad we were able to provide the help you needed!
GOD I HATE THAT THE IRS MAKES IT SO DIFFICULT FOR PEOPLE WITH RSU! ITS LIKE THEY DO IT ON PURPOSE JUST TO GET US TO PAY A PENALTY.
Give this man the documents he needs! He will make your life easier.
HAHA That's right!
Great video
I spent a few hours figuring out this stuff last year. You explained it in just a few minutes.
AWESOME!! ✌
Hopefully it helped! (PS. it took lots of time to make the video)
This video is a godsend. Found out I was paying 1500 dollars more in taxes due to the wonky nature of the 1099 forms! Calculating the adjusted cost basis helped me save this money.
I've been working for a big company that provides stock at a part of the compensation and benefits for 6 years. I wish I had researched the tax implications sooner, but I have learned lessons the hard way. This video is comprehensive and extremely helpful for someone in my position. Thank you
Phenomenal! I searched for hours for this info and this video nailed it!
oh man this guy makes a lot money!
The import for E*Trade seemed wonky this year and I needed this video to get through the tax year 😀 Thanks
My W2 does not have "restricted stock" clearly listed like this example. Box 14 does have a number that matches the ESPP but not the RU. Where else would this be clearly seen on the W2? TY
super complicated, i wish the tax return was a lot easier
Very helpful!
Glad it was helpful! Thank you!
Make one for Morgan Stanley pls, thanks!
If you can send us a copy of what you have we can redact it and make a video on this. Give us a call! 800-245-0596
Thank you. This is very helpful
If you input the transaction as a summary you get a different form. It would be nice if you showed how to input that way. If you aggregate, you need to mail in a bunch of stuff it appears
Awesome video
Thanks!
Glad I could help!
Excellent
Thank you so much 😀
Thank you, this is very helpful!
Please correct me if my interpretation is wrong, but for the RSU scenario the basis wasn't reported to IRS (check box B), looks like we shouldn't need to make any adjustments. Instead, we could just use the total adjusted cost basis directly in the "Total Cost or other basis" of TurboTax. As the form 8949 instruction says: "If this transaction is reported on a Part I with box B checked at the top or if this transaction is reported on a Part II with box E checked at the top, enter the correct basis in column (e), and enter -0- in column (g)."
CAN YOU DO A VIDEO ABOUT EMPLOYEE ISO ETRADE?
If you can send us a copy of what you have we can redact it and make a video on this. Give us a call! 800-245-0596
Does the amount on my last paycheck under other listed as Stock Off has to be the same as the total on the transaction supplement under adjustment cost basis?
why not just use etrade stock plan transactions supplement and enter them one by one
just wonder, I am a tutor, so the registration for CFA exam can be treated as a work related education expense, deducted on SCH.C, right? but not sure for which type expense I should classify? thanks
What if I left the company that granted the RSUs? I sold them this year. They’re listed as non covered. I don’t have the w2.
I think your RSU's for lots 74 and 143 are mixed up. The spreadsheet does not match the Supplement.
does the 1099b always have the correct classification of the sales of ESPP as Short term vs Long term and qualified vs non qualified?
The supplemental from etrade already as the adjusted gains, why didnt you just add them up there to get 739.82?
Im no longer in US and hence i will not get W2.But as i sold some shares which were acquired through espp last year,i got 1099-b form through post ? How do i proceed in this case ?
@EA Tax
if we exercise stock options ,,,is this same fix for as ESPP ? Can you do a more detailed info on exercising Options , employer sold some stocks from the options to pay for the stock….then we sold remaining exercised option and cashed in ….how taxes are correctly reported . Thanks
Reply
What if my W2 does not show RSU but I received a Statement of Taxable Income that has Total W2 Income. This would be counted as income correct?
Hey! I will be going over your comment in my upcoming livestream! Hope this helps! If you have any other questions I go live every Monday at 4P.M. PST. czcams.com/users/liveSHkqV4_UN90
Hi Anthony, I have a question. I got RSU that were taxed on my W2 for an amount of $3700. However, on the 1099B supplemental it only shows $2500 ordinary income. I was able to make the adjustment on the 1099B based on the supplemental 1099B. What should I do with the difference if there is no more RSU listed on the 100B that matches the difference?
Hey! I will be going over your comment in my upcoming livestream! Hope this helps! If you have any other questions I go live every Monday at 4P.M. PST. czcams.com/users/liveSHkqV4_UN90