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tonymac
New Member

If capital gains was my only income. Do you have to pay taxes on all gains/profit? Or is there a certain amount you make before you get tax?

 
2 Replies
Mike9241
Level 15

If capital gains was my only income. Do you have to pay taxes on all gains/profit? Or is there a certain amount you make before you get tax?

it depends on how much and whether the gains are short-term or long-term

regardless, even if tax is $0 you may still have to file to report them.

 

 

tonymac
New Member

If capital gains was my only income. Do you have to pay taxes on all gains/profit? Or is there a certain amount you make before you get tax?

Let say under 30,000 in gains for the short term. 

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