Coming soon - Get a detailed view of why an account is flagged as spam!
view details

This post has been de-listed

It is no longer included in search results and normal feeds (front page, hot posts, subreddit posts, etc). It remains visible only via the author's post history.

2
Unreported Capital Gains
Post Flair (click to view more posts with a particular flair)
Post Body

Hi, I've been notified by the IRS about unreported capital gains. Back at the start of the pandemic I sold off a lot of stocks before major drops occurred and later re-bought others. Some of those stocks were in a brokerage account and hence I owe tax on the gains those sales generated. I missed reporting this correctly on my tax return and now need to clear up the matter. 1) showing good faith and keeping the correspondence going with the IRS do I have any case to plead for reduction in the penalty or interest due, if so any advice? and 2) what are my options to pay this bill (probably ~18k) and if I do need to sell more stock to pay the bill any advice on how to do that so that? Thanks In Advance

Author
Account Strength
80%
Account Age
5 years
Verified Email
Yes
Verified Flair
No
Total Karma
36
Link Karma
17
Comment Karma
19
Profile updated: 1 day ago
Posts updated: 3 weeks ago

Subreddit

Post Details

We try to extract some basic information from the post title. This is not always successful or accurate, please use your best judgement and compare these values to the post title and body for confirmation.
Posted
2 years ago