I earned an income in 2017 in the amount of a few hundred dollars over the minimum filing requirement of $10,400: ~$10,700. It is only capital net gains and a little bit of dividends, no W2 wages. The standard deduction is roughly $6,400 and plus one exemption $4,000.
I have capital losses in 2016 in the amount of $3,000, which I haven't reported yet and I may elect to do so (dual resident in 2016). Can you please tell me does it make any sense to file my 2016 net losses? The return itself costs roughly $500 (dual resident). Would the loss carry over to the next year (2018) or it will just reduce my income in 2017 which is already reduced by the standard deduction and the exemption so my taxes are just $30.
Thank you very much.
P.S.: What about the state taxes? New York.
