My employer reports all of my RSU sales on my W-2 - including sell-to-cover sales. When entering info into TurboTax, however, I'm not sure that I have the correct remaining gains being reported. Should I be entering the net proceeds for Box 1D in these sell-to-cover transactions, rather than the gross proceeds that show on the 1099-B?
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You can report the gross proceeds shown on Form 1099-B in Box1D and then adjust the cost basis so that the net proceeds end up being correct, which should result in a minimal gain or loss on the transaction. To do this in TurboTax:
For more information on RSUs and how to report them, please see this TurboTax article.
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