If my capital gain is less than one dollar, do I still need add 1099B form??

[Marketstar]

Yes, you will need to claim the income even if you essentially broke even.

To report investment sales in TurboTax:

• Click My Account (Top right of your screen).
• Select Tools.
• In the pop up window, select Topic Search.
• In the search bar, type in investment sales
• Highlight it and select GO, and follow the prompts.

[fanfare]

How much less? if it is less than 50 cents, don't report it. Your Schedule D would show nothing and would probably not be attached.

[fanfare]

Anyway the IRS is not going to chase you down for the tax on one dollar.

[Critter]

It is the gross sales price that the IRS needs reported .... not the net profit or loss.

[Marketstar]

Yes, but the IRS has the record of the income and may inquire as to why it was not reported. They may not the have basis information to know the net outcome.

[Critter]

Correct .... so all sales need to be entered to report the cost basis or the IRS will assume a zero cost basis for any sales they don't already have on file.

[BobB7]

And, BTW Schedule D shows Proceeds, Cost, Adjustments, and net Gain or loss (hardly "nothing") and is always attached.

[fanfare]

I was assuming a covered transaction. In which case, the net gain is reported to IRS.

[BobB7]

But Schedule D still shows what I said.