Good afternoon,
I am late filing 2020 taxes due to initial confusion about whether I needed to file (I did not make enough salary-wise to qualify for paying taxes). Since I have since lost my documents, I am going off of the IRS provided transcripts on my account. I had an existing UTMA account that I liquidated that year, and I know approximately how much that distribution was. On the IRS transcripts page, however, it lists "net proceeds" on a broker and barter exchange transaction summary that are nearly half of what I was told the total account amount was.
Are these net proceeds capital gains that I am indeed needing to be taxed on, or is this just a number that indicates how much I pulled out from the account (which was closed following the transaction, and the "date sold or disposed of" is also given on the transcript)?
