Alan wrote:
- quote -

etiquette and not posting it to the newsgroup:

Question:

I am in this exact same situation, EXCEPT, if I were given
Restricted Stock instead of Restricted Stock Units, would your
answer be different?

Answer:
No. But for the future, issuance of restricted stock allows you
to make a Section 83(b) election within 30 days of grant. This is
not available to employees who receive RSUs.

To learn about the 83(b) election see:
http://www.fairmark.com/execcomp/sec83b.htm

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On Jan 30, 3:28 pm, Alan <sfcnm-...[at]yahoo.com> wrote:
- quote -

Alan

thank you very much for your detailed explanation !

sndobo

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<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

sndobo[at]gmail.com wrote:
- quote -

for restricted stock units (RSU) required the issuance of stock
on the date of vesting. You sold 40 shares in order to obtain the
cash to pay taxes on the amount added to your W-2 as wages.

You sold a capital asset and you have to report the sale of 40
shares on Form 1040 Schedule D. It is a short term sale. Your
proceeds are what you received for the 40 shares. Your cost basis
is the amount of income added to your W-2 for those 40 shares.
Usually the sale uses the same FMV as was used to generate your
compensation and your Schedule D would not show any gain (cots of
40 shares equals the proceeds from selling those 40 shares). In
fact, it might show a slight loss due to some fees or commissions
you had to pay.

It is possible that the amount of compensation added to your W-2
used a slightly different FMV than the price you sold at. E.g.,
this could happen if the plan called for the compensation to be
based on the closing price at the day before. You would have to
ask this question to whomever handled the transaction. You should
have received some paperwork that explained this.

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<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

Hi ,

I apologize in advance if this question has already been answered . I
searched for the
possible answer to my question , but could not find it .
I was awarded 100 shares ( rsu ) of XYZ , they vested on 05/05/2008
and
40 of them were sold right away to cover the taxes . I was left with
60 XYZ wich I
did not sell. This income was included in my W2 form .

My question is , do I need to report/file anything on my tax return
this year ?

Thanks and your answer is appreciated

sndobo

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<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >