I am well under the threshold for filing taxes, but sold a stock worth $60, do I need to files taxes because I sold the stock?

[mptexas87]

I was unemployed for all of 2017 making my gross income well under the tax filing threshold and I sold a single T-Mobile stock worth $60(it was a promotional thing where their customers could receive a single stock) that would qualify as a long term capital gain.  Do I need to file a return because I think it is already reported to the IRS(I don't know how the reporting works TBH) even though I am under the threshold?

[AnthonyC · Accepted solution]

If the $60 is your entire gross income for the year, then - no - you don't need to file taxes even though it was a capital gain that was reported to the IRS.  The capital gain is included in your gross income, but you would still be under the filing threshold. 

However, if you received unemployment compensation, then you would need to include any unemployment compensation you received in your gross income.  Depending on this amount (if any), you may need to file a tax return.  

You can view the filing threshold information below - 

https://ttlc.intuit.com/replies/3302274

[mptexas87]

I didn't receive any unemployment compensation, and the $60 didn't get me anywhere close to the threshold.  Thank you for the information Anthony!