Do i have to file taxes if i was unemployed all of 2018, however I sold some stocks?

[SweetieJean]

Any unemployment comp?

[jeepin4fun911]

Nope.

[Coleen3]

If your income is over the filing requirement, you do have to file. If you are a dependent, you requirement is $1050. For non-dependents, see below. You have to go by the gross proceeds, not the gain on the stocks.

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

[jeepin4fun911]

What do you mean by gross proceeds?  And I take it as stocks are considered income?  It was my only source of income.  Single, under 65 and I think I sold $15000 in stock.  So judging by that, I'd have to file?

[Coleen3]

Yes, the gain from the sale of stock is income. You are required to file since your income exceeds the filing requirement by $3000.

[jeepin4fun911]

Darn, How about mortgage interest I paid?  Will I get any of that back?  I believe I read that I won't because stocks are considered "Passive Income"

[Coleen3]

If your itemized deductions are more than your standard deduction of $12,000, then they will lower your income and you will pay less tax. If your gross proceeds are $15,000, at most you will pay tax on $3000. You may have losses on some of your transactions that will leave you with little or no taxable income.