I no longer own the stocks. Seems crazy to me that I would need to spend 60 dollars on premiere for making a measly 3 bucks. Any advise would be greatly appreciated.
Technically you are supposed to report anything involving stocks. Even if it was only 1 penny you gained . to save money on the turbotax fees... You could easily not report them...and its very likely you will have no hold up on your return. Ive known people for years to never report their 1099b's...and never hear a peep from the irs. In fact my friend from work for the 6th row in a year hasn't reported them. She just got her return last week no problem. Worse case scenario you will get a letter months later from the irs regarding why they werent reported and you will have to report them then. So its ultimately up to you to decide which route to take
Unfortunately, yes, you are required to report the stock sales. If you don't, the IRS will take the "sold" price and not the net gain and adjust your tax return on your behalf. If it results in additional taxes, you will owe income taxes and potentially interest on it as well. Although it may be minimal (if any at all) If they discover you "intentionally" left them off, they can go back and review your tax returns from all prior years.