Stock market stocks and tax
Hello I ran into a really big problem with stocks I don’t know what I was doing when I started stocks and prior before on the year of 2021 I got into a stock that went up on price and I had made around 6 figures plus and I sold it by mistake and I had decided to just hold it instead so I put everything back in to keep my position and I totally forgot all about it and the irs mailed me a form regarding the transaction I have done prior to the time the stock had went up and supposedly I had sold it but in reality I didn’t and I’m still holding my stocks but because I got out and joined afterwards my stock crashed over the course of months and months of holding this stock the irs sent me a letter that I have to pay the tax capital gains of that sale but I didn’t keep any of the rewards I was still learning and I still am and I have never seen the amount of rewards that the stock market can do but I totally lost it and now I received the letter with all of the transactions that was reported but I lost everything after making the decision of going back into the stock and because I sold it at a high price the irs thinks I made money but In reality I left it there and now I’m so afraid because the irs thinks I have all this money but I left it in the stock market and the stock crashed and I been holding this same position since I didn’t know I was going to get into so much trouble now my stock crashed and I have this capital gains taxas bill that is so high extremely outrages help
