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davc
Returning Member

Do I have to file capital gain from stocks if it was only $3?

Im a student and have no job or income to report this year. However I do have a couple stocks including dividend stocks. I received my 1099 form from Robinhood but my capital gain was only $3 should I still report such a low number? If I do report, this would be the only thing I’d be reporting would that be a problem? 

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3 Replies

Do I have to file capital gain from stocks if it was only $3?

No, you do not have to file a tax return as your income is below the threshold for filing.

davc
Returning Member

Do I have to file capital gain from stocks if it was only $3?

Hey thanks, but unfortunately I went ahead and submitted my tax return before reading this. Is there anything I should be worried about?

ErnieS0
Expert Alumni

Do I have to file capital gain from stocks if it was only $3?

No. If you filled out your taxes correctly, there is nothing your should be worried about.

 

It’s possible you would have had to have filed anyway even with a $3 capital gain. The 1099-B shows gross proceeds, not the amount taxable, so IRS may think you made more money than you actually did.

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