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Investors & landlords
You may receive a letter from the IRS for having unreported income. The extent of what kind of issue this may cause will depend on what you mean by you 'made less than $10 in stocks'.
If that $10 was in the form of dividends, then it is unlikely that it will make a difference on your tax return and it would be unlikely to cause a problem with the IRS if they did send you a letter.
If that $10 was because you sold some stock for $1000 that you had purchased for $990 and therefore had a $10 gain, then not reporting that gain on your return is a bigger issue. To the IRS, it looks like you did not report $1000 of income since the transaction was not reconciled on your return.
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April 23, 2020
5:34 AM