Any capital asset sales create a taxable event. You must report all sales and determine gain or loss. Do not fail to do that. The IRS gets a copy of the 1099-B that will report the sales to you. If you do not report it, then you can expect to get a notice from the IRS declaring the entire proceeds to be a short term gain and including a bill for taxes, penalties, and interest. You really don't want to go there. Report the sale based on the 1099-B that you will get.
