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June 1, 2019
Question

I sold stocks but didn't make money. Should I file it on my taxes

  • June 1, 2019
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1 reply

June 1, 2019

Yes, you must report the sale even though you did not make any money on the sale.  You must report your cost in order to show the IRS you did not make money.  The brokerage company already reported the sale to the IRS.  If you do not report your cost, the IRS will assume that the entire sale was profit.  

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