topic Want to know if I have to pay taxes since I’m a student and own stocks and bought them with student loans cause I don’t work and had dividends and very low capital gains? in Investors & landlords

Want to know if I have to pay taxes since I’m a student and own stocks and bought them with student loans cause I don’t work and had dividends and very low capital gains?

wannabedoc — Thu, 06 Jun 2019 14:42:59 GMT

You used your student loan money to buy stocks? Any schol...

SweetieJean — Thu, 06 Jun 2019 14:43:00 GMT

You used your student loan money to buy stocks?
Any scholarships or grants?
And how old are you?

To find out what's allowed, check your loan agreement. In...

SweetieJean — Thu, 06 Jun 2019 14:43:02 GMT

To find out what's allowed, check your loan agreement. In some cases, there are restrictions

I believe there are no restrictions as to what I can do w...

wannabedoc — Thu, 06 Jun 2019 14:43:05 GMT

I believe there are no restrictions as to what I can do with that money as long as I lay it back when I finish studying, I’m 24 and got no grant or scholarship since I used my fafsa on undergraduate and I’m currently studying medicine

If you are not claimed as a dependent by anyone else, the...

Hal_Al — Thu, 06 Jun 2019 14:43:08 GMT

If you are not claimed as a dependent by anyone else, the filing requirement is $10,400 of income, including dividends and capital gains. If you have less, you do not need to file a tax return.

One caveat: if you received forms1099-B for more than $10,400, it could be a red flag to the IRS and you may want to file anyway to ward off an IRS inquiry.

Thank you very much for clarifying this to me!!

wannabedoc — Thu, 06 Jun 2019 14:43:10 GMT

Thank you very much for clarifying this to me!!