1099 B still needed?

[Toru1]

If filed MFJ with husband for this year and then 1099 B tax form for stock arrived after we already filed, do we still need to report the 1099 B tax form? If so, how long do we have to report it? What happens if it's not reported?

[KrisD15]

You have until April 15, 2025 to amend your return and claim the income reported on Form 1099-B without penalty. 

If it isn't reported, the IRS may notice and add it to your return. If that happens, the IRS will send you a letter explaining the change they suggest and ask if you agree.  If you agree, your tax return will be adjusted by the IRS and there will be nothing more you need to do. 

If this does not happen, and your return is processed without Form 1099-B, be sure to amend before April 15th. 

If you don't amend and claim the 1099-B, you could be subjected to a penalty and interest on the additional tax. 

HERE is a link with the steps to amend your return.