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Do i need to file tax with Stock short term gain less than $9000

I didn't work in 2020 but I had an income of

Bank interest $200

Stock dividend $100

Stock short term gain $8500

Total: $8800

 

I believe I don't need to pay any taxes  but am I still required to file tax return?

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1 Reply
ToddL99
Expert Alumni

Do i need to file tax with Stock short term gain less than $9000

You probably won't owe any tax, but you will probably need to file a tax return

 

What is your filing status - single, married, filing jointly, married filing separately, head of household - and can you be claimed by someone else as a dependent? The answers to these questions will help determine your filing requirements.

 

From the IRS: You must file a tax return for 2020 in any of the following circumstances if you're single, someone else can claim you as a dependent, and you're not age 65 or older or blind:

  • Your unearned income was more than $1,100.
  • Your earned income was more than $12,400.
  • Your gross income was more than $1,100, or $350 plus your earned income up to $11,850, whichever is greater.

You can get a complete view of your filing requirements by using the IRS toll Do I Need to File a Tax Return?

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