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Question

If I was unemployed and had a loss on my 1099 B, do I still have to file a tax return?

Forum|Forum|7 years ago
June 1, 2019
1 reply
17 views

Unemployed and Loss on my 1099 B

TurboTax Premier Windows

A

Anonymous

Yes, if you meet the filing requirement. IRS only sees the proceeds on your 1099-B, not the profit or loss. If your proceeds and any other income are more than the filing requirement, you must file. In addition, if you have losses, the only way to carry them forward to future years is to claim them on your 2018 return.

2018 Filing Requirements

Single

Under 65 $12,000
65 or older $13,600

Married filing jointly

Under 65 (both spouses) $24,000
65 or older (one spouse) $25,300
65 or older (both spouses) $26,600

Married filing separately

Any age $5

Head of household

Under 65 $18,000
65 or older $19,600

Qualifying widow(er) with dependent child

Under 65 $24,000
65 or older $25,300