18 year old dependent full time student has 1099-B.Redeemed $3279, cost basis for Giftrust started in 2000 is $4093.Does student need to file a return?Summer job=$1,293.

[dtraylor44]

The students only income for 2016 was summer job and the redeemed Giftrust.

[NicoleU · Accepted solution]

Your child dependent is required to file a tax return for 2016 if any of the following apply:

 - they had only unearned income (interest, dividends, capital gains) of more than $1,050 (the income is the taxable portion which is the gain, if applicable, not the proceeds received.)

 - they had only earned income (wages, salaries, tips, fees) of more than $6,300 (if you dependent received a Form W-2)

 - they were self-employed with $400 or more income (if your dependent received a Form 1099 Misc)