Not quite. If your *only* income is from investments, you don't have to file a tax return or pay tax if the amount is less than $1050.
If you have a job and are required to report the income from your job, then you must report *all* your income on your tax return. Usually, that means if you earn more than $6300 when you are a dependent, or if you earn more than $10,300 if you are not a dependent.
