1099-B had $0.44 proceeds, a cost basis of $8.26, net loss of ($7.82). Can I risk not filing?
I have a small investment in a company through broker that usually doesn't send me 1099s because I don't sell. (The company turned out to be a dud, but I just leave it alone hoping it turns around.) In 2024, the broker sold some of it to cover costs, so I have a 1099-B this year: Proceeds $0.44, Cost Basis $8.26, Net ($7.82). My tax software requires I pay for the premium version for another $99 just to process the 1099-B. Obviously, I would rather not file it, but I'm reading here I risk an audit (or a possibly fine?) since the broker reported the sale, and the IRS will only see the proceeds and that I didn't report some income. Is this really a big risk since the proceeds are a whopping $0.44?