My son did not have a job in 2020-income is 0. He is a full time student. We sold his mutual fund shares in 2020 and had a loss of $58. Do we need to file for 2020?

[rkcampbellfamily]

Based on the info above, does he need to file a tax return for 2020?  I cannot find any information regarding his situation that tells me he must file either way. The sale of the mutual fund shares was reported to the IRS so my thought was he should file.  But I am really not sure it's necessary.

[NCperson]

not necessary - there is no tax due on a loss.

[Critter-3]

MAYBE ... depends on the gross sales price and if the sales were covered.  If they are all covered sales then filing a return is not needed.