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Level 2

Question

Cryptocurrency under $10?

Forum|Forum|4 years ago
January 31, 2022
1 reply
4 views

So I was told we report everything. Due to an error where I wasn’t able to remove the $10 the same day it was deposited I ended up making $6.34 extra when they deposited it right after. I went to add it manually but TurboTax is saying I have to pay $69 to add the $6.34. Do I seriously need to add this tiny amount and lose so much more money? I’m broke I need every dollar I can get I can’t afford to pay an extra for practically nothing.

Level 15

IRS is not going to come after you for the tax on $6 dollars.

with no 1099-B, the IRS knows nothing about this.

RolaSakurabaAuthor

Level 2

Uphold says they do 1099b on all amounts and they post it to your account on 2/15/22.

I just don’t want them coming after me if I don’t put on $6 I don’t want to pay another $69 cause of it let me just pay the stupid $6 instead!

Level 15

the tax on $6 is $1.32.

IRS is not going to come after you for one dollar.