cpabsd Posted March 31, 2022 Report Posted March 31, 2022 Child is 10... received a Form 1099B that reflects $2503 in sales and basis of $2503. Is a return required to be filed? I'm tired and blanking on is the determination of exceeding $1100 investment income is gross sales, or net allowed if basis is reported to the IRS. Quote
Lion EA Posted March 31, 2022 Report Posted March 31, 2022 I would file. IRS computer may not note more than the proceeds. And, filing starts the SOL. 2 Quote
Lee B Posted March 31, 2022 Report Posted March 31, 2022 It depends, if the basis was not reported to the IRS then file. Ir the basis was reported then I wouldn't file. 1 Quote
Possi Posted March 31, 2022 Report Posted March 31, 2022 3 hours ago, cbslee said: It depends, if the basis was not reported to the IRS then file. Ir the basis was reported then I wouldn't file. Interesting. I like the way you're thinking. 1 Quote
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