/biz/ - Business & Finance

>>25458207
>RH 1099
It's not difficult to go back and fix it. You just file a Form 1040X along with whatever schedule (I guess a Sched D) you need to report your investment income.

If you didn't owe taxes at alll, or if this wouldn't change your tax liability, then it's an easy and cheap way to avoid potential trouble. If it does change how much you owed, the penalties and interest will be much lower if you do it now than if you do it five years from now.

OTOH they probably won't catch it or care, unless they run into another irregularity and start digging into you more closely.

>Coinbase
Well, there's another irregularity. . . .

They seem to have a hardon for crypto, and Biden is already planning on adding more IRS agents to investigate people.

>XLE stock, wash trading rule
IIRC that only applies if you took a loss on closing your XLE position and then bought back in within 30 days. If you had a gain, it definitely doesn't matter, you can buy, make a gain, sell, rebuy, make another gain, sell again, repeat multiple times, and that's fine. It's only if you try to take a loss before a rebuy that they lose their shit.