I sold one share of a corporate during the tax year with capital gain of $0.44. I don't have any other capital gains/loses or dividends. Do I need to report $0.44?
I also received 1099-B that indicates the sale of that share and mentions: Box A (basis reported to IRS).
I sold one share of a corporate during the tax year with capital gain of $0.44. I don't have any other capital gains/loses or dividends. Do I need to report $0.44?
Yes, you need to report the sale on your return to show both the proceeds of the sale and your cost basis. Otherwise, IRS will see the sale as income omitted from your return.
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