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Get your taxes done using TurboTax
I assume you are a dependent of your parents. If so, you are required to file a tax return because you have unearned income (i.e. investment income) of more than $1,100. It doesn't matter whether your parents actually claim you as a dependent. If they can claim you, you are required to file. When you prepare your tax return, be sure to check the box that says someone can claim you as a dependent.
If no one can claim you as a dependent, you are not required to file because your gross income is less than $12,200.
If you are a dependent, and you were under 24 years old at the end of 2019, you will be subject to kiddie tax because your unearned income is more than $2,200.
‎July 1, 2020
9:39 AM