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Rocko
Rocko asked in Business & FinanceTaxesOther - Taxes · 1 decade ago

My tax due is 0 for year 2009. Do is still have to file my taxes?

I had only a small capital gain on some shares but no other income. I got a zero dollar due on turbo tax.

8 Answers

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  • Mathew
    Lv 7
    1 decade ago
    Favorite Answer

    You may not be required to but it is always a good idea with stock sales as the IRS will see the 1099-B and send you a bill as if the basis was zero.

  • Judy
    Lv 7
    1 decade ago

    With a capital gain, yes, file, so you show the IRS what your basis was and they don't think the entire sale price is gain.

  • Anonymous
    1 decade ago

    If the proceeds from the sale of stock is more than $9350, you must file. The irs won't know what you paid for the stock and would assume it was all gain and all short term.

  • Ms. Angel..
    Lv 7
    1 decade ago

    Yes you must file, you must show IRS you have $0 tax due.

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  • Anonymous
    1 decade ago

    It depends on your income, not "tax due" per se.

    Source(s): IRS Publication 17
  • wg0z
    Lv 7
    1 decade ago

    see "who must file" in form 1040 instructions

  • Corn
    1 decade ago

    you still need to file

  • Anonymous
    1 decade ago

    Yes or they will get you

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