Last year I was given company stock in the form of RSUs paid out 1/3 each year over the next 3. So 1/1 this year I essentially got the first 1/3 distribution so I have nothing on my 2015 taxes I need to worry about.
For 2016 though, I need to make sure I'm covered. The grant was for 360 shares so the payout was 120 shares on 1/1 (actually 1/4) and the price the market opened at. They actually withheld 45 shares for Federal taxes, SS, Medicare and state taxes. Everything I read on this essentially shows I should be good on taxes (if I would have sold immediately), and now I will only be concerned with the gain or loss at the time of sale from the distribution price. Is this correct?
This is all new to me, and I actually had no idea I was going to get this, but was given another 3 year grant this year...so I figured I better understand what my responsibility is before I just blow it on craft beer.
For 2016 though, I need to make sure I'm covered. The grant was for 360 shares so the payout was 120 shares on 1/1 (actually 1/4) and the price the market opened at. They actually withheld 45 shares for Federal taxes, SS, Medicare and state taxes. Everything I read on this essentially shows I should be good on taxes (if I would have sold immediately), and now I will only be concerned with the gain or loss at the time of sale from the distribution price. Is this correct?
This is all new to me, and I actually had no idea I was going to get this, but was given another 3 year grant this year...so I figured I better understand what my responsibility is before I just blow it on craft beer.