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Level 2

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

 
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Employee Tax Expert

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

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. 

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**Mark the post that answers your question by clicking on "Mark as Best Answer"

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Employee Tax Expert

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

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