- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
The answer is to file a complete and accurate return, you are required to report all of your income. With rounding though, there is no gain or loss to report since it is less than $1.
It is possible that you would receive a letter from the IRS if you do not report the transaction as part of your return, but it is unlikely, and if you did there would be no real tax consequence when your return was modified to include it.
If the transaction was reported on Form 1099-B, you would need to upgrade to the Premier version of TurboTax Online or use one of the CD/downloaded versions of the program to report it.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
March 9, 2022
11:43 AM