Tax

Have a Tax Question? Ask a Tax Expert

Ask an Expert,
Get an Answer ASAP!

Tax

I am looking to sell my company RSU's however most of them

Customer Question
are at a loss from...
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: 1 year ago.Category: Tax
Show More
Show Less
Ask Your Own Tax Question
Answered in 9 minutes by:
8/17/2016
Tax Professional: Lane, JD, CFP, MBA, CRPS replied 1 year ago
Lane
Lane, JD, CFP, MBA, CRPS
Category: Tax
Satisfied Customers: 13,257
Experience: Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
Verified

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

...

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

...

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

...

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

...

Thanks

Lane

...

..

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.

Ask Your Own Tax Question
Customer reply replied 1 year 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.
Tax Professional: Lane, JD, CFP, MBA, CRPS replied 1 year ago

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

...

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

Ask Your Own Tax Question
Tax Professional: Lane, JD, CFP, MBA, CRPS replied 1 year ago

Hi,

...

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

...

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")

...

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

...

Lane

Ask Your Own Tax Question
Ask Lane Your Own Question
Lane
Lane
Lane, JD, CFP, MBA, CRPS
Category: Tax
Satisfied Customers: 13,257
13,257 Satisfied Customers
Experience: Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986

Lane is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

Wallstreet Esq.

Wallstreet Esq.

Tax Attorney

586 satisfied customers

10 years experience

Mark D

Mark D

Enrolled Agent

1,300 satisfied customers

MBA, EA, Specializing in Business and Individual Tax Returns and Issues

Richard

Richard

Tax Attorney

4,338 satisfied customers

29 years of experience as a tax, real estate, and business attorney.

Robin D.

Robin D.

Senior Tax Advisor 4

13,980 satisfied customers

15years with H & R Block. Divisional leader, Instructor

Megan C

Megan C

Certified Public Accountant (CPA)

8,651 satisfied customers

Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level

jgordosea

jgordosea

Enrolled Agent

2,885 satisfied customers

I've prepared all types of taxes since 1987.

R. Klein, EA

R. Klein, EA

Enrolled Agent

1,839 satisfied customers

Over 20 Years experience

< Previous | Next >

Related Tax Questions
Thanks. We are a non profit church and we have a member who
We are a non profit church and we have a member who want us to return his contributions for 2011, 2012, 2013, 2015. He has financial hardship last year and we willingly gave him back his contributions for 2017 and 2016. … read more
Lane
Lane
JD, CFP, MBA, CRPS
13,257 satisfied customers
Are religious (church) non-profits required to file state
Are religious (church) non-profits required to file state and federal taxes annually? … read more
Lane
Lane
JD, CFP, MBA, CRPS
13,257 satisfied customers
I currently run a non-profit corp in Illinois and we have
Good afternoon, I currently run a non-profit corp in Illinois and we have been considering expanding into housing. Our goal is to purchase an apartment complex and help low-income families in our area… read more
Lane
Lane
JD, CFP, MBA, CRPS
13,257 satisfied customers
Non-for-Profit initiated "Call for Projects" initiative from
Non-for-Profit initiated "Call for Projects" initiative from which NFP picked 15 submissions and provided artistic support and fund for each of the 15 artists that were picked (grants). Should NFP iss… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
I'm trying to get the forms for estimated tax online but I
I'm trying to get the forms for estimated tax online but I keep getting this site to get on-line forms. I install then they don't work. How can I get the forms. Also last year I could pay from my chec… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
13,980 satisfied customers
On a NJ W-3 form, is line 3 the NJ Gross income tax withheld
On a NJ W-3 form, is line 3 the NJ Gross income tax withheld or is that supposed to include unemployment tax, FLI, SDI, etc... as well… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
13,980 satisfied customers
If we wish to start a non profit thrift store do we have to
If we wish to start a non profit thrift store do we have to have all paperwork in place and approved before the store can operate? … read more
Lane
Lane
JD, CFP, MBA, CRPS
13,257 satisfied customers
Tax law.FICA Tax law. W-4 and W-2 payroll tax withholding
tax law.FICA Tax law. W-4 and W-2 payroll tax withholding from wages and salaries.gross pay and take home pay. number of hours measured direct work assigned by W-4 and W-2 forms. for Medicare eligibil… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
FICA payroll employer tax withholding tax forms W-4 and W-2
FICA payroll employer tax withholding tax forms W-4 and W-2 forms. The accountant for the man I worked for from1976-1984 did not provide me with W-4 forms to complete and return to him or W-2 forms to… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
13,980 satisfied customers
I am considering filing as an Non-Profit for the tax
i am considering filing as an Non-Profit for the tax advantage but do not know that it would work for me. I am just using this as a tax shelter as I will be owing lots more money in taxes as a single … read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
13,980 satisfied customers
I am 62 and currently employed with 110k w-2 income for
Hi, I am 62 and currently employed with 110k w-2 income for 2017. I unfortunately withdrew great deal of funds from 401k to remodel home. Amount i withdrew is almost 300k. I am very concerned that I a… read more
abci168
abci168
Principal
27 satisfied customers
Do you know non profit tax law? California. The 501(c) 3 has
Do you know non profit tax law? JA: Can you tell me where the nonprofit is registered? Customer: California JA: Has anything been officially filed? If so, what? Customer: The 501(c) 3 has existed sinc… read more
Lane
Lane
JD, CFP, MBA, CRPS
13,257 satisfied customers
I mailed a check to estimated taxes but it hasn't gone to
Second opinion] I mailed a check to estimated taxes but it hasn't gone to bank. should I be concerned … read more
Lane
Lane
JD, CFP, MBA, CRPS
13,257 satisfied customers
I need help for W-2 forms for auto loan asap. File w-2's. I
i need help for W-2 forms for auto loan asap JA: The Expert will know how to help. Please tell me more, so we can help you best. Customer: file w-2's JA: Is there anything else important you think the… read more
Mark Taylor
Mark Taylor
Certified Public Accountant
Masters
2,280 satisfied customers
FEDERAL INCOME TAX: A SINGLE WOMAN RECEIVES A 2016 FORM W-2
FEDERAL INCOME TAX: A SINGLE WOMAN RECEIVES A 2016 FORM W-2 FROM HER EMPLOYER WITH A TYPO IN THE SOCIAL SECURITY NUMBER. TO DATE THE EMPLOYER HAS NOT PROVIDED A "CORRECTED" FORM W-2. IS THERE AN IRS "… read more
Mark Taylor
Mark Taylor
Certified Public Accountant
Masters
2,280 satisfied customers
I want to sell some stock. My estimated w-2 income for 2017
I want to sell some stock. My estimated w-2 income for 2017 will be $13,000.00. My estimate Long Term gain will be $50,000.00. Will the 50 get added to the 13 making my taxable income 63? Or does my t… read more
Mark Taylor
Mark Taylor
Certified Public Accountant
Masters
2,280 satisfied customers
Do you have knowledge on tax laws regarding non profit
Do you have knowledge on tax laws regarding non profit donations and so forth? … read more
Chad EA, CFP ®
Chad EA, CFP ®
IRS Enrolled Agent, CFP(R),
Master\u0027s Degree
1,074 satisfied customers
My daughter-in-law receives a W-2 form from her employer,
My daughter-in-law receives a W-2 form from her employer, this is her only income. The Medicare income is $53,903 but her NJ State income is $60,053. How is that possible? No investment or interest in… read more
emc011075
emc011075
Senior Tax Specialist
Bachelor's Degree
16 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x