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It also depends on how long you’ve owned the asset.
And i don’t think that 10k number is relevant.
Something surprising I noticed on my taxes, I’m supposed to report any tips that I receive over $20. I don’t work in an industry where I receive tips, but I just thought that was interesting when I was filling out the packet to give to my accountant
Sorry, I’m not more help
Edit, I would imagine if you don’t report it, and you get audited, they’re not gonna throw you in jail, they would probably just give you some kind of fine or make you pay the unpaid taxes.
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