viajero_intergalactico
 |
the irs will get a notice that you recieved $900 from the sale of stock.
they will not get a notice that you bought the stock for $1000 unless you tell them on schedule D.
so you need to file..... |
|
chatsplas
|
You may be able to get benefit of stimulus rebate in 2008 return, but not for 2007.
Even with IRS assuming $0 basis for your stock, your income is not above filing threshhold. No income, no reason to file income tax return. |
|
Judy1
 |
File and show the loss. You aren't required to, and it won't get you anything, but might save you some IRS paperwork later.
And without $3000 in eligible income, you aren't eligible for the rebate, so all the people telling you to file so you can get the $300 haven't been paying attention to what the rules are. |
|
bostonianinmo
 |
If that was your only income there's no need to file. Even if the entire $900 was treated as a gain it would still be well below the filing requirement amount.
HOWEVER -- and there's often a however -- if you expect your income to rise in 2008 then you may well want to file a Form 1040 and Schedule D this year. You have a small loss that can't be used this year BUT you can carry it forward to next year's return and use it there. It won't save you a lot of money -- maybe as little as $15 to $25 next year -- but every dollar counts. |
|
Bandit
 |
No. You need to show $3000 earned income to get the rebate. I don't think you are eligible, so why file? Your income is below minimum filing requirements. |
|
CMF AL
|
No. You do not have to File income tax for 2007.. You are not eligable for any refunds or rebates of stimulas check because you do not meet the minimum income requirement to be eligable. |
|
Sara L
 |
I think you have to make at least $3000 and I believe it includes money gifts or lottery won money...but I'm not 100% sure...
Go to the IRS site and do research for your state...
Plus when I was a student I claimed loan interest and student life cost and I would get a little bit back! so it doesn't hurt ($90)!!
good luck...and I would not pass it! |
|
bd4212
 |
i would and show that loss |
|
Dwight Love
|
Yes for 07 to receive the BUSH PACKAGE |
|
Pandora
 |
Yes you still have to fill out a tax return because the government will need to know how you lived if you did not have any income. Plus you can claim student loans, rent things like that on your tax returns. But the bottom line is...yes you need to file a tax return |
|
Fl. Guy
|
if you want to be eligable for the stimulas check in May you need to file for the 2007 year.
you can do it inline for free at taxact.com |
|
Jo
|
No, you don't have too. Go to the IRS website and see if you can get the stimulus rebate if you file though. Check irs.gov. |
|
graduate
|
Yes, for the rebate as well as if you may get a refund. |
|
waffleage
|
Well if you do file taxes you get three hundred dollars back. |
|
| |
|
Homepage 
Financial
Forum 
Taxes 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
