Ask an Accountant
A free tool by
Question
My income from stock sales was $1.43. So I need to file a tax return?
AI accountant’s answer:
Yes, you likely need to file to report that transaction. The main risk with stock transactions is that the IRS may not know your basis in the stock (the amount you paid for it). Therefore, the IRS will often treat the entire sales price as profit.
No answer given yet!
Answer
Yes, you likely need to file to report that transaction. The main risk with stock transactions is that the IRS may not know your basis in the stock (the amount you paid for it). Therefore, the IRS will often treat the entire sales price as profit.
No answer given yet!

Melissa Pedigo, CPA
No items found.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Oops! Something went wrong while submitting the form.

Find write-offs.
File taxes.
Keeper helps independent contractors and freelancers discover tax deductions and file taxes.
Get started