this post was submitted on 12 Jun 2025
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I want to believe this is true.
Lol, it's not. The IRS doesn't care about your brokerage sales unless you're liable for a capital gains tax, which wouldn't happen if you are not making a profit.
Plus, if they received a huge pile of paper about your trades that didn't include a 1099-b, which is literally just like 1/4 of a sheet of paper....they would just request it from your brokerage.
Anyone who thinks the IRS is some evil org has just never done their own taxes and listens to propaganda from billionaires who don't think taxes should exist.
If you've ever really had a legal problem with the IRS, you were more than likely purposely evading taxes and deserve the trouble. They are actually really reasonable to work with, and usually bend backwards to resolve the issue in several different ways before pursuing anyone legally.