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Wallstreet Esq.
Wallstreet Esq., Tax Attorney
Category: Tax
Satisfied Customers: 586
Experience:  10 years experience
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CA tax board believes I owe a large amount of taxes in 2015

Customer Question

JA: The Accountant will know how to help. Please tell me more, so we can help you best.
Customer: CA tax board believes I owe a large amount of taxes in 2015 due to stock trading However I actually incurred huge losses that year But did not file...
JA: Is there anything else the Accountant should be aware of?
Customer: Nope that's about all. I had no employment that year
Submitted: 1 year ago.
Category: Tax
Expert:  emc011075 replied 1 year ago.

Hi. My name is ***** ***** I will be happy to help you.

Unless you file the return and claim the losses, the IRS and the CA FTB has no way of knowing how much you invested. Only the proceeds had been reported to them so unless you file your return, they will assume it is all taxable.

Expert:  emc011075 replied 1 year ago.

I see you read my respond. Do you have any questions? Is there anything else I can help you with today?