Solved: I tried to day trade stocks with no job all year, no health insurance, lost money and had no income. Do I need to file taxes or owe money
Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
TurboTax has you covered during Covid. Get the latest stimulus info here.
cancel
Showing results for 
Search instead for 
Did you mean: 
jaycm15
New Member

I tried to day trade stocks with no job all year, no health insurance, lost money and had no income. Do I need to file taxes or owe money

 
1 Best answer

Accepted Solutions
TomYoung
Level 13

I tried to day trade stocks with no job all year, no health insurance, lost money and had no income. Do I need to file taxes or owe money

You need to file an income tax return in any case because, obviously, you're going to be getting a long list of trades reported on 1099-B's, and the IRS sure will want to see them reported.  Too, you want to be able to claim those losses, even if you can't use them this year as they will carry forward to the years that follow.

Tom Young


View solution in original post

1 Reply
TomYoung
Level 13

I tried to day trade stocks with no job all year, no health insurance, lost money and had no income. Do I need to file taxes or owe money

You need to file an income tax return in any case because, obviously, you're going to be getting a long list of trades reported on 1099-B's, and the IRS sure will want to see them reported.  Too, you want to be able to claim those losses, even if you can't use them this year as they will carry forward to the years that follow.

Tom Young


View solution in original post

Dynamic AdsDynamic Ads
v
Privacy Settings