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April 8, 2023
Question

I failed to report a stock sale in 2021. Can I report on my 2022 return ?

  • April 8, 2023
  • 1 reply
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Small value like $1.35 was not reported.

1 reply

April 8, 2023

No, you cannot report it on your 2022 return.  

 

It must be reported on a 2021 return since the sale occurred in 2021.  If you have filed your 2021 return, then filing an amended return would be the proper way to include this stock sale.

 

That being said, it is unlikely that reporting proceeds from a stock sale in the amount of $1.35 would make a difference on your return.  You should just keep the information with your tax records in the even that the IRS contacts you about unreported income.  

 

Also, this question is being answered with the assumption that the proceeds from the sale is $1.35, not the overall gain or loss.  If $1.35 is the overall gain, then you may need to file the amended return in order to prevent any letters from the IRS regarding unreported income.  For example, the proceeds of the sale could have been $10,001.35 with a cost basis of $10,000 giving you an overall gain of $1.35.  In this case, the IRS could consider the $10,001.35 as unreported income if it had not been included as part of your return.

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