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      02-14-2013, 01:36 PM   #1
SG_E92
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Talking Tax Help Please! :) Little Help Filing a 1090-B for the sale of vested company stock

Anyone Familiar with using a 1090-B for the sale of vested company stock(not options). I really could use a little help. I mainly just need to know how to calculate my Basis(Box 3). Is it simply the value of the stock at the time it vested?

Vested Stock Value: 58.90x20 Shares
Sold 13 Shares 2 days after vest: $58.61x13 = $761-19(fees)=742(box 2a)
7 Shares withheld to cover tax: $412

I'm Guessing my basis(Box 3) is...58.90x20=1178

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      02-14-2013, 03:56 PM   #2
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Anyone?? I will PayPal a gift($10) for a solid answer with an explanation
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      02-14-2013, 04:43 PM   #3
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Anyone?? I will PayPal a gift($10) for a solid answer with an explanation
Your basis is whatever the stock was worth on the day you were granted x quantity. Ex:- 100 shares granted worth $25/each. Basis is $2500. You have to report vested stock income regardless if you sell the stocks or not because it's kind of an award. Options are different. Make sure to report the tax you paid on 7 shares. Hope this helps!

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      02-14-2013, 04:56 PM   #4
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Talking

Hey thanks a bunch for the reply I really appreciate it. So the day the 20 shares vested it was worth 58.90x20=$1178. 7 of the 20 shares were taken out to cover the taxes at the time it vested. I sold the remaining 13 shares two days after it vested at 58.61x13 = $761-19(fees)=742(box 2a). So I am correct in putting $1178 in Box 3 for my Basis? Also do you know by any chance if I have to file an 8949 http://www.irs.gov/pub/irs-pdf/f8949.pdf ?

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Your basis is whatever the stock was worth on the day you were granted x quantity. Ex:- 100 shares granted worth $25/each. Basis is $2500. You have to report vested stock income regardless if you sell the stocks or not because it's kind of an award. Options are different. Hope this helps!
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      02-14-2013, 05:12 PM   #5
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Hey thanks a bunch for the reply I really appreciate it. So the day the 20 shares vested it was worth 58.90x20=$1178. 7 of the 20 shares were taken out to cover the taxes at the time it vested. I sold the remaining 13 shares two days after it vested at 58.61x13 = $761-19(fees)=742(box 2a). So I am correct in putting $1178 in Box 3 for my Basis? Also do you know by any chance if I have to file an 8949 http://www.irs.gov/pub/irs-pdf/f8949.pdf ?
Yes sir. $1178 is correct. 8949 is the new D-1 schedule form. Stock description automatically flows onto 8949, you don't have to specially fill it out. Make sure to check box A or B if your basis was reported on 1099-B or not.
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      02-14-2013, 05:42 PM   #6
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Sweet...this was they key i have been searching for an hour for "Stock description automatically flows onto 8949" that makes a lot more sense now. Only thing I don't see the box A or B to check? The basis was not reported on my 1099-B from E*Trade, btw.

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Yes sir. $1178 is correct. 8949 is the new D-1 schedule form. Stock description automatically flows onto 8949, you don't have to specially fill it out. Make sure to check box A or B if your basis was reported on 1099-B or not.
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      02-14-2013, 06:45 PM   #7
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Also the 7 shares which were taken to cover the tax total (7x58.90)412.13. If i put that into box 4(federal income tax withheld) my returns goes up by that exact $412 doesn't seem right that I would get all of the tax back I paid on the stock at the time it vested?
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Your basis is whatever the stock was worth on the day you were granted x quantity. Ex:- 100 shares granted worth $25/each. Basis is $2500. You have to report vested stock income regardless if you sell the stocks or not because it's kind of an award. Options are different. Make sure to report the tax you paid on 7 shares. Hope this helps!
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      02-14-2013, 07:37 PM   #8
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Originally Posted by SG_E92
Also the 7 shares which were taken to cover the tax total (7x58.90)412.13. If i put that into box 4(federal income tax withheld) my returns goes up by that exact $412 doesn't seem right that I would get all of the tax back I paid on the stock at the time it vested?
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Originally Posted by badazzm View Post
Your basis is whatever the stock was worth on the day you were granted x quantity. Ex:- 100 shares granted worth $25/each. Basis is $2500. You have to report vested stock income regardless if you sell the stocks or not because it's kind of an award. Options are different. Make sure to report the tax you paid on 7 shares. Hope this helps!
Check box b for basis not reported. There has to be a place where you can check that. Thats weird that you are getting everything back if you put the tax withheld amount but I can't tell until I look at the return. As long as you put that amount of taxes paid in the return, you are fine. Go ahead and file it.
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