You'll need to sign in or create an account to connect with an expert.
Whether a dependent or not, you still file stock sales the same way.
you need to file if you want to carryforward any losses.
If you had no other income you are below the threshold requiring you to file.
Yes, but you can't claim your own exemption. Somewhere early in the process you will be asked if someone else can claim you as a dependent, and you must answer that YES. This means you don't get the same standard deduction that a non-dependent would get.
Also, if your unearned income is higher than some threshold (I think $2200), you will be taxed at your father's rate. (It's called the "kiddie tax," and was designed to keep rich parents from avoiding taxes by putting investments in their children's names.) Presumably your tax software will catch this if it needs to, and guide you through it. With the low income you mentioned you don't have to worry about that.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
tuckergdwight
New Member
2b394abdf3f4
New Member
aclawson1
New Member
null760
New Member
870a1fa85a83
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.