Discussion in 'Taxes and Accounting' started by zosorock, Apr 11, 2008.

  1. 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.
  2. 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.

  3. zosorock


    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!
  4. 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.