Two years ago I had capital gains of a couple thousand dollars, this year my capital gains and dividends only totaled about $1,200. Do I have to file taxes? What is the minimum?
2007-02-21 05:22:13 · 5 answers · asked by menschect 1 in Business & Finance ➔ Taxes ➔ United States
The maximum unearned income you can have an not file a tax return is $850.00. Since you had more than that, you must file a return.
If you have self-employment income of $400 or more, you must file a tax return.
If you have income from wages of more than $8,450 (as a single taxpayer) you must file a return.
Since you had unearned income of $1,200, you must file a return for 2006.
2007-02-21 05:28:40 · answer #1 · answered by Bostonian In MO 7 · 3⤊ 0⤋
You still have to file even if you did not make the minimum as you might be qualified to get some extra money back from the government as you might be below the poverty line and it's free money, so why not take it.
2007-02-21 05:26:11 · answer #2 · answered by Akbar B 6 · 0⤊ 4⤋
You have to file every year that you have income. I can't believe all you got for income last year was 1,200 for the whole year. If it is more, file.
2007-02-21 05:30:33 · answer #3 · answered by handyrandy 5 · 0⤊ 4⤋
You have to file every year that you have income
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2007-02-22 09:06:38 · answer #4 · answered by ellen h 2 · 0⤊ 1⤋
no
2007-02-21 05:29:21 · answer #5 · answered by gary f 2 · 1⤊ 2⤋