MinhT
Expert Alumni

After you file

Although the amount of capital gain is small, it is always advisable to amend your return in this case. The IRS has a copy of your 1099-B and if they cannot find it on your return will issue a letter to tax you on the whole proceeds and not only the capital gains. You would then have to write an explanatory letter which will be more cumbersome than filing an amended return.

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