that if you make a profit of less than 1,800 dollars in america, you do not get charged on taxes?
2007-10-04 12:51:31 · 4 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
Not true.
Assuming that you are already required to file, all gains (net of losses) are reportable.
2007-10-04 12:55:31 · answer #1 · answered by Wayne Z 7 · 0⤊ 0⤋
Not true. Any gain is taxable.
If the less than $1800 was your ENTIRE income for the year, then you wouldn't have made enough to owe any tax. But if you had other income like from a job that took you over the limit to owe tax, and made even $1 gain on stock sales, you'd pay tax on it.
2007-10-04 20:03:08 · answer #2 · answered by Judy 7 · 1⤊ 0⤋
That is incorrect unless it is your only income
2007-10-04 20:21:50 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Not at all true.
2007-10-04 19:55:49 · answer #4 · answered by Jerry 2 · 1⤊ 0⤋