I'm dealing with a very similar RSU tax situation right now! My employer also liquidated some of my vested shares and I'm getting that same confusing 1099-B with no cost basis reported. It's so frustrating because it makes it look like I owe taxes on gains I never actually realized. From what I've been reading in the IRS publications, you're absolutely right that the vesting date FMV should be your cost basis. The key thing is that when RSUs vest, that fair market value gets added to your W-2 income, so you've already been taxed on that amount. Your actual capital gain or loss is just the difference between what the shares were worth when they vested versus what they sold for. One thing I learned is to make sure you save all your documentation - not just the CSV from your brokerage, but also any supplemental tax documents your employer provided about the RSU transactions. Some companies send additional forms or statements that help clarify the cost basis calculations. Have you checked if your employer's HR or benefits team has any resources to help with this? Mine had a tax guide specifically for RSU reporting that I found really helpful.

I'm going through something very similar with my RSUs from last year! The 1099-B situation is so confusing when there's no cost basis reported. One thing I learned after talking to a tax professional is that you should definitely double-check that your employer actually included the RSU income on your W-2. Sometimes there can be timing differences - like if the shares vested in December but were sold in January, the income might show up on different tax years' W-2s. Also, if you're using tax software, make sure it properly handles the adjustment. I initially tried doing it myself in TurboTax and almost made a huge mistake because I didn't realize I needed to manually override the cost basis field. The good news is once you figure out the right process, it's pretty straightforward for future years. Just make sure to keep detailed records of all your vesting dates and fair market values - it makes everything much easier come tax time.

Has anyone compared FreeTaxUSA vs TaxHawk for 2024? I know they're owned by the same company but sometimes their features differ slightly.

Thanks for the heads up! I've been procrastinating on getting my tax stuff organized, so having FreeTaxUSA available early is perfect timing. I switched to them two years ago after getting fed up with TurboTax's pricing and haven't looked back. One thing I love about being able to access it this early is that I can play around with different scenarios - like seeing how much extra I might owe if I do some Roth conversions before year-end, or what my refund would look like if I max out my HSA contributions. Really helps with year-end tax planning instead of just scrambling to file in February. Has anyone noticed if they've added any new features for 2024, or is it pretty much the same interface as last year?

Has anyone used TurboTax to prepare their S-Corp return with K-1? I'm in the same boat as OP and wondering if the software walks you through this properly or if I should use something else?

Just wanted to add my experience as someone who went through this exact situation last year. The key thing to remember is that even though you had no revenue/expenses, you still need to properly complete the K-1 because it establishes important records for future years. A few specific tips for your zero-activity K-1: - Box 1 (Ordinary business income/loss): Enter "0" not blank - Box 16 (Foreign transactions): Enter "N/A" if no foreign activity - Make sure to include your beginning and ending capital account balances Also, keep detailed records of any startup costs you personally paid for - these might not affect this year's return but could be important for future deductions. The IRS likes to see consistency in how S-Corps report, even in dormant years. Good luck with your first S-Corp filing! The learning curve is steep but gets easier each year.

This is such a common confusion! You're definitely not responsible for paying her taxes - that's entirely her obligation as the service provider. However, you absolutely need proper documentation to claim the Child Care Tax Credit. Here's what you need to do immediately: Start keeping detailed records of every payment (date, amount, method). Since you've been paying cash, ask your provider for a year-end summary showing total payments made, along with her Tax ID number (either SSN or EIN). You'll need this information to complete Form 2441 when filing your taxes. The fact that you're paying $225 weekly means you're spending about $11,700 annually on childcare, which could qualify you for a significant tax credit! Don't let poor documentation cost you hundreds or thousands in legitimate tax savings. If she's reluctant to provide her Tax ID or proper receipts, that's a red flag. Legitimate childcare providers understand they need to provide this documentation to parents. You might want to start looking for alternative arrangements if she continues to be uncooperative about basic tax requirements.

I'm dealing with a very similar situation right now! My in-home provider has been great with care but terrible with documentation. What I've learned is that you're absolutely not responsible for her taxes - that's entirely her business obligation as a service provider. However, you MUST get proper documentation to claim the Child Care Tax Credit, and at $225/week, you're looking at almost $12,000 annually that could qualify for a significant credit. Here's what I did to solve this: 1. I started keeping my own detailed payment log immediately (date, amount, payment method) 2. I had a direct conversation with my provider explaining that I legally need her Tax ID number and year-end payment summary for my taxes 3. I switched from cash to Venmo so there's an automatic record of every payment If she pushes back on providing her Tax ID, that's a major red flag that she may not be reporting her income properly. A legitimate childcare business understands these are standard requirements. You might need to start looking for alternative arrangements if she won't cooperate, because without that documentation, you'll lose out on potentially thousands in tax credits you're entitled to claim. Don't let poor record-keeping cost you money you've already earned through legitimate childcare expenses!

Don't forget that if you absolutely cannot get your W-2, you can still file your taxes using Form 4852 (Substitute for W-2). You'll need to estimate your wages and withholding as accurately as possible. Your last paystub of the year is super helpful for this if you have it. The IRS might follow up to verify the information, but at least you can get your filing done and avoid more late penalties. Just be honest about why you're using the substitute form.

I went through something very similar a few years back when I needed old W-2s from a restaurant job. Here's what worked for me: First, definitely try the IRS wage transcript route that Omar mentioned - it's free and often the fastest option. You can get it instantly online if you can verify your identity through their system. But also don't give up on contacting the employer directly. Even if that specific Chick-fil-A location closed, the franchise owner likely had to transfer employee records to their accountant or another location. Try calling other Chick-fil-A locations in the area and ask if they can help you get in touch with the franchise owner or their HR department. One thing that helped me was explaining that I needed it for back taxes - most employers are pretty understanding about that situation and will make an effort to help since they know how important those documents are. If all else fails, the Form 4852 substitute that Nia mentioned is a valid option, but definitely exhaust the other routes first since having the actual W-2 data from the IRS transcript will be much more accurate than trying to estimate from memory. Good luck getting caught up on those taxes! Don't stress too much - the IRS is generally pretty reasonable when you're making a good faith effort to get compliant.