I retired in 2024 and that included accelerated vesting of a bunch of RSUs. It'd be nice if I could enter most of these as a grouped transaction but the IRS says you have to separately list anything you make an adjustment to. I don't yet have my 1099 (a note on E-trade's website says they got a regulatory waiver to delay 1099s until as late as March 20th. Crazy). But I want to get at fairly reliable number for my taxes, well before March 20.
I expect, like past years, that all my RSUs on the 1099, when it comes, will list zero cost basis. That has to be corrected, but does the IRS consider correcting the same as adjusting?
More specifically:
I have around 40 RSU "lots" and they have a bunch of different grant dates but they should all have the same vest date since that's what accelerated vesting is supposed to do--vest them all simultaneously. In turn, I think that vesting price becomes the cost basis. Then I sold all 40 lots all on the same day (2 days later), at the same execution price.
(PS: once the RSUs vested and became shares, they remove taxes as a whole number of shares and only deposit the remaining shares into my account so I never see those shares and they aren't directly relevant for tax form purposes--unless accelerated vesting has some special considerations.
Is it correct that I can group all 40 of these together as one line item, since:
Date Acquired will be the same for all lots, all shares.
Date sold will be the same for all lots, all shares.
Cost basis (zero on the 1099) has to be corrected to be: total # shares in the 40 lots times the vest price.
Gross proceeds is the total # shares in the 40 lots (after tax shares are removed) times the sale price per share (it was exactly the same for all).
And I don't think I need to enter any codes to make any adjustments.
The commission should also be available as a total number across all 40 lots.
Based on what I described above, can I enter this group of 40 lots on 1 line, as 1 aggregated transaction, or do I have to enter all 40 lots as a separate line item?
I expect, like past years, that all my RSUs on the 1099, when it comes, will list zero cost basis. That has to be corrected, but does the IRS consider correcting the same as adjusting?
More specifically:
I have around 40 RSU "lots" and they have a bunch of different grant dates but they should all have the same vest date since that's what accelerated vesting is supposed to do--vest them all simultaneously. In turn, I think that vesting price becomes the cost basis. Then I sold all 40 lots all on the same day (2 days later), at the same execution price.
(PS: once the RSUs vested and became shares, they remove taxes as a whole number of shares and only deposit the remaining shares into my account so I never see those shares and they aren't directly relevant for tax form purposes--unless accelerated vesting has some special considerations.
Is it correct that I can group all 40 of these together as one line item, since:
Date Acquired will be the same for all lots, all shares.
Date sold will be the same for all lots, all shares.
Cost basis (zero on the 1099) has to be corrected to be: total # shares in the 40 lots times the vest price.
Gross proceeds is the total # shares in the 40 lots (after tax shares are removed) times the sale price per share (it was exactly the same for all).
And I don't think I need to enter any codes to make any adjustments.
The commission should also be available as a total number across all 40 lots.
Based on what I described above, can I enter this group of 40 lots on 1 line, as 1 aggregated transaction, or do I have to enter all 40 lots as a separate line item?
Statistics: Posted by Gnomon — Sat Feb 01, 2025 4:28 pm — Replies 4 — Views 237