Solved: If my only source of income for the 2019 tax year is short-term capital gains from day trading, can I still claim the standard deduction? Thank you

If my only source of income for the 2019 tax year is short-term capital gains from day trading, can I still claim the standard deduction? Thank you

posted

Yes, you can.

The amount of your standard deduction will vary depending on your filing status, whether a dependent or not, age or blindness. You can use this IRS tool to figure out how much your standard deduction will be.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

Yes, you can.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

DO I HAVE TO DEDUCT THE TRADE-IN VALUE FROM MY NEW CAR PURCHASE AMOUNT? EX: NEW CAR COSTS 35K, LESS TRADE-IN OF 10K. TOTAL I PAID WAS 25K. WHAT DO I REPORT THAT I PAID?

Expert does your taxes

Do it yourself

Resources

Support

Expert does your taxes

Do it yourself

Resources

Support

Expert does your taxes

Do it yourself

Resources

Support

Expert does your taxes

Do it yourself

Resources

Support

If my only source of income for the 2019 tax year is short-term capital gains from day trading, can I still claim the standard deduction? Thank you

If my only source of income for the 2019 tax year is short-term capital gains from day trading, can I still claim the standard deduction? Thank you

If my only source of income for the 2019 tax year is short-term capital gains from day trading, can I still claim the standard deduction? Thank you

Get more help

Do you have a TurboTax Online account?

If my only source of income for the 2019 tax year is short-term capital gains from day trading, can I still claim the standard deduction? Thank you

Do you have an Intuit account?

If my only source of income for the 2019 tax year is short-term capital gains from day trading, can I still claim the standard deduction? Thank you

If my only source of income for the 2019 tax year is short-term capital gains from day trading, can I still claim the standard deduction? Thank you

Get more help

Related Content

Thank you for helping us improve the TurboTax Community!

Sign in to Turbotax

File your taxes, your way

Access additional help, including our tax experts

Post your question

Connect with an expert