If someone has income from stocks of less then the current federal income tax reporting requirement for "salary/wages".. and the stocks are there only form income.. do they still need to file? or just like if it was wages income do they not have to file? anyone know.
2007-07-31 04:03:06 · 1 answers · asked by Anonymous in Business & Finance ➔ Investing
If income from all sources (including investments) is below the threshold, you normally don't have to file. For determining the threshold for reporting, the IRS doesn't care if the money comes from dividends, interest, wages, stock sales, or what.
In income tax there are always exceptions, though. The rules are different and more complicated for dependents, and if self-employment income exceeds $400 then you have to file to pay self-employment tax.
2007-07-31 04:20:12 · answer #1 · answered by Houyhnhnm 6 · 0⤊ 0⤋