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Old 03-25-2005, 05:26 AM
Harlan Lunsford
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Default Re: Restricted Stock question

cg1 wrote:

- quote -

> I had 50 shares of my company's "Restricted Stock" vest. I
> ended up selling it last year. After taxes were removed, it
> came to 34 shares. They sent me a check.
> On my 1099-B, the transaction shows up there.
> My question
> =============
> How do I report this on my tax return? I'm using TurboTax
> Premiere (going through the 'interview' process) and any
> guidance would be appreciated. Do I enter it as a Stock
> Option sell somehow??
> I know the $ was already taxed, I'm just worried I still
> need to at least report it since it's on my brokerage's
> 1099-B that I received.


Then go over your broker's statement with a fine tooth comb,
and discover hos much paid for the stock, assuming they
advanced the funds with which "you" purchased the stock.
What you'll probably find, is that after their commission
for selling the stock, you have a small capital loss.

ChEAr$,
Harlan Lunsford, EA n LA
24 Mar 2005

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Old 03-25-2005, 04:48 AM
Thomas Healy
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Posts: n/a
Default Re: Restricted Stock question

"cg1" <twqwctf[at]netzero.net> wrote:

- quote -

> I had 50 shares of my company's "Restricted Stock" vest. I
> ended up selling it last year. After taxes were removed, it
> came to 34 shares. They sent me a check.
> On my 1099-B, the transaction shows up there.
> My question
> =============
> How do I report this on my tax return? I'm using TurboTax
> Premiere (going through the 'interview' process) and any
> guidance would be appreciated. Do I enter it as a Stock
> Option sell somehow??
> I know the $ was already taxed, I'm just worried I still
> need to at least report it since it's on my brokerage's
> 1099-B that I received.


The cost you put in Schedule D is what you paid plus the W-2
income that you already paid tax on. Typically you will end
up with a small short-term capital loss (broker's fees).

--
Tom Healy, CPA
Boulder, CO
Web: http://www.tomhealycpa.com

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->
  #-1  
Old 03-24-2005, 04:27 AM
cg1
Guest
 
Posts: n/a
Default Restricted Stock question

I had 50 shares of my company's "Restricted Stock" vest. I
ended up selling it last year. After taxes were removed, it
came to 34 shares. They sent me a check.

On my 1099-B, the transaction shows up there.

My question
=============
How do I report this on my tax return? I'm using TurboTax
Premiere (going through the 'interview' process) and any
guidance would be appreciated. Do I enter it as a Stock
Option sell somehow??

I know the $ was already taxed, I'm just worried I still
need to at least report it since it's on my brokerage's
1099-B that I received.

thank you.

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->
 

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question, restricted, stock
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