ToddL
New Member

Retirement tax questions

Unfortunately, the IRS requires you to  report  all your income  on your income tax return. 

Having said that, if you don't report the 1099-B, the IRS  may  send you a notice of Proposed Increase in Taxes later this year. 

They will calculate the tax due (plus interest and penalties) and you can send them a check (no amended return necessary). On $8, that might total $1 or $2 at the most.