If I received income through selling stocks but I used that income to pay the IRS (from underreporting in 2015) is there a tax break for that?

[KatherineC · Accepted solution]

No there is no tax break for paying the IRS the underpaid taxes.

If your stock sales were held for more than a year, the gains will be taxed at a special rate.depending on the tax bracket you are in for the total of your regular income + the long-term capital gains.

Click here for further information about capital gains.

[senoritathomason]

Thank you!! Super helpful and fast.

[KatherineC]

You are welcome!