taxation

Z

zosorock

Hi guys,

My girlfriend is a student and just started investing late last year. She bought and sold a couple of stocks (literally) and bough and sold a few options, with very little profit mainly to get used to how things work.

Now here is my question: does she have to file taxes even though she made maybe $50?

I guess is also worth mentioning that she is a foreign student, so I was wondering how tax laws applies to her.

Any help is much appreacited.
 
Quote from zosorock:

Hi guys,

My girlfriend is a student and just started investing late last year. She bought and sold a couple of stocks (literally) and bough and sold a few options, with very little profit mainly to get used to how things work.

Now here is my question: does she have to file taxes even though she made maybe $50?

I guess is also worth mentioning that she is a foreign student, so I was wondering how tax laws applies to her.

Any help is much appreacited.
More...

Does she have a job while being a student regardless to how much money she made from the market???

Also, call the revenue folks free help line.

Mark
 
No, she is a full-time student and investing spare money she has to keep in her account for her visa requirements.

I will look into that help line, thank you!
 
If you receive a Form 1099-B from your broker you have to file a tax return with Schedule D to account for the stock sales. If you don't file a return the IRS assumes a cost basis of zero for the stock and the stock sales total as 100% profit.
 
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