Investors & landlords

Your income taxes would be $0, in your case, however I would file a tax return and here is why.

IRS will get information on all the sales, and if they match it to your return (which won;t be filed) they can and have in the past:

Shown the sales all as income with $0 cost basis

and all as short-term gain.

So if you bought a stock for $10,050 and paid $10,000 for it, they would show it a $10,050 gain versus a $50 gain.

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