I have free grant stocks (Starbucks Bean Stock) that vested and that i sold last year; how do i report this income if at all?

[nrozic]

As a Starbucks employee, we get free bean stock for signing up and being an employee. I had shares that finished vesting before i quit and i sold them, however im unsure how to report them. The only tax forms in my Fidelity account are 1042-S. What do I report?

[TurboTax_Susan]

If you're a Canadian resident, you will report the 1042-S as foreign income, using the Foreign slip.

Non-residents of Canada are taxed on Canadian-sourced income only. Taxes on your income have likely been withheld at the source, so you do not need to report a 1042-S on a Canadian tax return as a non-resident.

[nrozic]

Hi, thanks so much! I wanted to also ask am i supposed to input information for Capital gains and capital gains deduction? I’m unsure where i would find the information for those boxes, as I sold grant stocks and I’ve never purchased any stocks. 

[nrozic]

@TurboTax_Susan Hi, thanks so much! I wanted to also ask am i supposed to input information for Capital gains and capital gains deduction? I’m unsure where i would find the information for those boxes, as I sold grant stocks and I’ve never purchased any stocks. 

[TurboTax_Susan]

You can find your eligible taxable capital gains as reported on Form T657 from your combined previous years' tax returns. The Capital Gain Deduction page shows which forms/lines to look at, if that if relevant to your situation.