How Do I Calculate My IRS Reporting?

There is nothing better than a really good cpa.

"A capital gain occurs when you sell an asset for more than you paid for it. If you hold an investment for more than a year before selling, your profit is typically considered a long-term gain and is taxed at a lower rate."

Those suggesting to "do nothing" regarding non reporting of capital gains.... if you want to go to prison, feel free to say nothing to the IRS. If not.... as 1847bill alluded to, talk to a cpa.

Actually, the long term capital gain rate is a max of 28% for collectables, but the short term cap gain rate is your ordinary income tax rate, same as for other short term cap gains.

depends on how much more money your making say its 500 dollars in gains post expense then I don't think the IRS going to chase you for that. However if your making like 100K+ then yeah there going to be some serious question asked and you should definitely ask a account or a CFA as you would want to minimise you taxes including what to do with the money once it comes into your account, such as 401K.