Current Events > Can I get audited if I don't report a capital loss?

(+) Yeah! (+)

So obviously if you have a gain you can get audited in the future if you dont report it because the IRS wants their money. But I have a $15 loss on Coinbase buying and selling crypto.

If the IRS catches this down the line would they audit or penalize me? It was so insignificant I forgot to report it on my taxes.

They probably wont care but if you are worried you can always amend your tax return.

This is not tax advice.

If they would audit you it would just mean they would investigate further to find there was just a loss and no extra income mising from reporting. So no real penalty would be possible unless there's some generic small fine for not reporting 100% of everything(don't live in the US). But I think they're more concerned about going after people not reporting huge swathes of income, let alone someone who's made a few bucks on crypto, doubly let alone someone who's actually come out negative on crypto lol. So I think you're fairly safe