r/tax•
anosmiasucks

Can someone please explain RSU cost basis and the 1099-B we just got??

So I had 1000 RSU's that vested in March of 2015. The brokerage sold shares at vesting to cover fed/stat taxes, fica etc which came to about $22,300

The cost basis per the brokerage site was $59.59. We didn't sell until June when the stock went to a bit over $70/share.

On the 1099-B I just got it shows "Cost or other Basis" as $0.70??? My assumption was that since we already paid almost 40% in taxes, we'd owe a bit more on the difference between the $70/share and the basis of $59.59 not 70 cents!

Why does it show a cost basis of $0.70 when the cost basis was a bit over $59??

Sorry but new to all this

Posted Feb 21, 2016, 9:36 PM UTC

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