Posted by: Elixir February 19, 2010
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IRS will be reported of all your stock sell transactions. Usually IRS is interested to see if you made a profit and did not report it. If you are at a net loss and did not report it, IRS will not penalize you for sure. However, why do you want to give up an opportunity to save tax. If your tax bracket is 25%, you can save $125 on your tax.
The other thing I want to address is your net profit or loss on stock transaction in 2009 is determined by analyzing only the sales transactions you did in 2009. All you have to do is selling price - cost price and add 'em together.
Don't worry about the market value of the stocks at year end. If you don't understand this explanation, then go get a CPA's help.