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Stocks and taxes

On 11/30 I bought some stocks and sold them the same day and only profited 6.67 and on 12/30 I did the same. In total i profited 10-13 dollars all of 2020 in stocks. My broker webull didn’t send me a 1099 form. Do I still have to report this even though it was later in the year and I didn’t gain much capital?

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2 Replies

Stocks and taxes

you should report it. there is no rule that says you can skip reporting small amounts of income. some firms send out the 1099 after the normal date of 1/31.   just think of the mess you'll create for yourself if the IRS gets the form and you don't report it.  

Stocks and taxes

the deadline to send you the 1099-B has not passed yet.

Wait.

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