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Lane
Lane, JD, CFP, MBA, CRPS
Category: Tax
Satisfied Customers: 10796
Experience:  Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
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I am looking to sell my company RSU's however most of them

Customer Question

I am looking to sell my company RSU's however most of them are at a loss from what they were granted to me at the time they vested. I paid all of the taxes on these when they vested by selling other shares that were also vested.
The statement as I set this up reads:
Total Shares to Sell 8,796 Estimated Gross Proceeds $79,691.76
Total Estimated Cost $265.62
Estimated Net Proceeds $79,426.14
With a loss of -$23,571.91.
When I do my taxes this year am I going to owe any money for the $79k I received or since I can show that I already paid taxes on the full amount will I owe nothing for taking this money out?
Submitted: 6 months ago.
Category: Tax
Expert:  Lane replied 6 months ago.

Hi. My name's Lane. I can help here.

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ForgotSounds like you're Spot-on .. but just to be sure,,

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What is your tax basis in the units (what amont was included on your W-2 as income)?

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Let me know and we can go from there. I'll be here.

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Thanks

Lane

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I hold a law degree, (Juris Doctorate), with concentration in Tax Law, Estate law & Corporate law, an MBA, with specialization in financial accounting & tax, a BBA, and CFP & CRPS designations, as well - I’ve been providing financial, Social Security/Medicare, estate, corporate, non-profit, and tax advice, since 1986.

Customer: replied 6 months ago.
I have been receiving these for many years, each year as they vested I paid taxes in the form sold shares for the price they vested at all of the shares vested at above what I am selling them for. My W2 each year reflected the income of the vesting price, and the subsequent taxes paid. Not sure I could dice it up for each year and vesting.
Expert:  Lane replied 6 months ago.

OK, you get it ... so, yes, as you asked ... no you do not owe the tax.

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You have also, however, identified your next task ... Identifying the basis

Expert:  Lane replied 6 months ago.

Hi,

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I’m just checking back in to see how things are going.

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Did my answer help?

If this HAS helped, and you DON’T have other questions … I'd appreciate a positive rating (using the stars or faces on your screen, and then clicking “submit")

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But again, let me know if you need more here.

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Lane

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