Hacker News new | ask | show | jobs
by cdoxsey 3014 days ago
Even if they don't send you a doc you need to pay taxes on your earnings.
1 comments

Of course, it's just what I expected since every other reputable investment business does this.

However, my concern is less from that and more from the $30. Will they care?

It depends on your definition of “care”. As other comments have noted, you might get a letter. History suggests they would not be likely to attempt to prosecute you for tax evasion.

https://www.hrblock.com/tax-center/irs/tax-responsibilities/...

They do have a limited budget for enforcement and they prioritize accordingly.

The letters described are for correctable human mistakes that can be detected by math crosschecking and fixed by a letter. If they decide you are trying to avoid paying taxes on Bitcoin, and they decide to be upset about that, they would likely initiate an audit instead of a form letter — the serious, investigator, difficult kind.