I only made less than $10 in stocks last year. Will I get in trouble if I don’t file the stocks in taxes?

[AnnetteB6]

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.  

@tax-ret20

[tax-ret20]

So should I wait till that letter comes and go to an accountant? Because I forgot to add the stock taxes when I did my 2019 tax return. 

[MinhT1]

You can amend your tax return using TurboTax.

To amend your return, please follow the instructions in this TurboTax Help topic.

[fanfare]

I think IRS will let you skate for $10.

Your cost basis is reported to the IRS.

[KyCoe06]

So I Like to do penny stocks to learn investing/trading and I made over a $10 gain Would I have to report that to the IRS