MinhT1
Expert Alumni

Get your taxes done using TurboTax

You can file your 2020 tax returns (Federal and State) now to report your stock trades and capital gains. 

 

To file your return, you can start here.

 

You'll have to pay back taxes and penalty and interest.

 

As this can be considered as a bona fide omission, filing your 2020 tax return and paying the back taxes and penalty will completely solve the issue. Jail time is when you are convicted of tax fraud or tax evasion.

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