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If I have a RSA stock award- and the company uses xx no of

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shares to sell in order...
if I have a RSA stock award- and the company uses xx no of shares to sell in order to cover the tax liability - and then gives me the rest of the award - how is this tax applied to me for IRS tax preparation purposes.
Submitted: 2 years ago.Category: Tax
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Answered in 3 minutes by:
5/13/2015
Tax Professional: Robin D., Senior Tax Advisor 4 replied 2 years ago
Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 15,871
Experience: 15years with H & R Block. Divisional leader, Instructor
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Hello and thanks for trusting me to help you today. I am a tax adviser with over 20 years of experience.
The tax withheld is shown on your W2 and increases the "credit" you receive for the tax paid.
The stock is shown as a sale and you increase your cost by the amount added to your income.
In most cases you will have no gain or even a small loss to claim.
The Form 8949 and Schedule D is used to report the sale. Your W2 is increased by the amount of the shares and that is why you are allowed to increase your cost.
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Tax Professional: Robin D., Senior Tax Advisor 4 replied 2 years ago
Please advise if you need more information or clarification.
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Tax Professional: Robin D., Senior Tax Advisor 4 replied 2 years ago
Hi Tony,
I'm just following up with you to see how everything is going. Did my answer help?
Let me know,
Robin
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Customer reply replied 2 years ago

This is the 2nd year for this RSA- and last year, the W-2 didn't include this amount of the shares used to pay for the tax liability .

where else can it show up ? The amount taken from my paychecks was the amount used for the tax amount in my W-2.

Tax Professional: Robin D., Senior Tax Advisor 4 replied 2 years ago
The amount should have been added to your wages. It would not be listed as a separate item on your W2.
The tax would have been on the W2 and also just added to your taxes withheld.
You would need to check your actual wages and then add the stock amount to that and it should be equal to the Box 1 on your W2.
If you can not tell that the amount was added to wages then check with your HR department and have them show you what was reported.
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