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-   -   Tax Preparation Software For Restricted Stock Units (https://britishexpats.com/forum/usa-57/tax-preparation-software-restricted-stock-units-746965/)

HarryTheSpider Feb 1st 2012 1:51 am

Tax Preparation Software For Restricted Stock Units
 
Hi All

I couldn't find anything on the forum about this already...

What software would you use (I know, you can't give advice otherwise you'd be sued from one end of Hell to the other and then royally buggered etc)...

... if you had Restricted Stock Units (RSUs) and needed to account for them in your tax return properly?

--- I have a suspicion I paid way too much tax on them this year...

Cheers

Harry The Spider

md95065 Feb 1st 2012 4:57 am

Re: Tax Preparation Software For Restricted Stock Units
 
TurboTax should be able to handle this.

If you are just dealing with vesting and didn't sell any of the stock you probably don't have anything to do because the value of the vested RSUs will just show up as ordinary income on your W2.

If you sell the stock then you have to figure out the correct basis for the stock (which will be the value that it had when in vested) in order to calculate the capital gain or loss.

jackattack Feb 1st 2012 4:44 pm

Re: Tax Preparation Software For Restricted Stock Units
 
We sell RSUs and Turbo Tax definitely has a specific section on this.
You can 'try' TurboTax and see what it spews out in tax payments for you before you have to actually pay for the service (I am thinking that you just pay for the software when you file except I haven't got that far yet!)

HarryTheSpider Feb 1st 2012 8:13 pm

Re: Tax Preparation Software For Restricted Stock Units
 

Originally Posted by jackattack (Post 9878332)
We sell RSUs and Turbo Tax definitely has a specific section on this.
You can 'try' TurboTax and see what it spews out in tax payments for you before you have to actually pay for the service (I am thinking that you just pay for the software when you file except I haven't got that far yet!)

My bank has an online service with TurboTax... I can fill it all in online and see... I only pay when I file, if I choose to go that way.

Cheers

HTS


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