Go Back  British Expats > Living & Moving Abroad > USA
Reload this Page >

Tax Preparation Software For Restricted Stock Units

Tax Preparation Software For Restricted Stock Units

Old Feb 1st 2012, 1:51 am
  #1  
BE Forum Addict
Thread Starter
 
Joined: Jun 2010
Posts: 2,847
HarryTheSpider has a reputation beyond reputeHarryTheSpider has a reputation beyond reputeHarryTheSpider has a reputation beyond reputeHarryTheSpider has a reputation beyond reputeHarryTheSpider has a reputation beyond reputeHarryTheSpider has a reputation beyond reputeHarryTheSpider has a reputation beyond reputeHarryTheSpider has a reputation beyond reputeHarryTheSpider has a reputation beyond reputeHarryTheSpider has a reputation beyond reputeHarryTheSpider has a reputation beyond repute
Default 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
HarryTheSpider is offline  
Old Feb 1st 2012, 4:57 am
  #2  
BE Forum Addict
 
Joined: Mar 2008
Location: Santa Cruz, CA
Posts: 4,896
md95065 has a reputation beyond reputemd95065 has a reputation beyond reputemd95065 has a reputation beyond reputemd95065 has a reputation beyond reputemd95065 has a reputation beyond reputemd95065 has a reputation beyond reputemd95065 has a reputation beyond reputemd95065 has a reputation beyond reputemd95065 has a reputation beyond reputemd95065 has a reputation beyond reputemd95065 has a reputation beyond repute
Default 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.
md95065 is offline  
Old Feb 1st 2012, 4:44 pm
  #3  
BE Enthusiast
 
Joined: Feb 2009
Location: Herts to CA for nearly 10 years and now MD
Posts: 351
jackattack has much to be proud ofjackattack has much to be proud ofjackattack has much to be proud ofjackattack has much to be proud ofjackattack has much to be proud ofjackattack has much to be proud ofjackattack has much to be proud ofjackattack has much to be proud ofjackattack has much to be proud ofjackattack has much to be proud ofjackattack has much to be proud of
Default 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!)
jackattack is offline  
Old Feb 1st 2012, 8:13 pm
  #4  
BE Forum Addict
Thread Starter
 
Joined: Jun 2010
Posts: 2,847
HarryTheSpider has a reputation beyond reputeHarryTheSpider has a reputation beyond reputeHarryTheSpider has a reputation beyond reputeHarryTheSpider has a reputation beyond reputeHarryTheSpider has a reputation beyond reputeHarryTheSpider has a reputation beyond reputeHarryTheSpider has a reputation beyond reputeHarryTheSpider has a reputation beyond reputeHarryTheSpider has a reputation beyond reputeHarryTheSpider has a reputation beyond reputeHarryTheSpider has a reputation beyond repute
Default Re: Tax Preparation Software For Restricted Stock Units

Originally Posted by jackattack View Post
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
HarryTheSpider is offline  

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service - Do Not Sell My Personal Information

Copyright © 2018 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.