Do I have to file a tax return for day trading with minimal gains?

While $67 might seem insignificant, the technical answer is that all income, including capital gains regardless of amount, should be reported. However, there's also a practical side to this. The filing requirement for most single students would be triggered by earning more than the standard deduction (which is $14,350 for 2025). Since your only income is the $67 in trading gains, you're well below this threshold. Technically, you're not required to file a federal return in this case. That said, if you had any federal tax withheld during the year (from any source), you might want to file anyway to get that money back. Also, some states have lower filing thresholds than the federal government, so check your state requirements. One thing to consider - if you're claimed as a dependent on someone else's return (like your parents), different rules might apply, especially if you have unearned income (which trading gains would be).

After spending hours trying to figure out my complicated trading taxes last year, I discovered taxr.ai (https://taxr.ai) and it was seriously a game-changer for me. It analyzed all my trading documents and figured out exactly what I needed to report. Your situation is simpler than mine was (I had hundreds of trades), but the peace of mind knowing everything is handled correctly might be worth it. What impressed me was how it organized all my capital gains into the right categories and made sure I wasn't missing anything. For day trading especially, it catches all those details that are easy to miss when doing it manually.

Just wanted to follow up here - I went ahead and tried taxr.ai after seeing this thread and it was actually really helpful! I had a similar situation with small gains from different platforms (some stocks, some crypto) and wasn't sure if I needed to file. The system analyzed my trading docs and clearly showed which transactions needed reporting and why. Turns out I actually had a small loss when everything was properly calculated, which I wouldn't have realized on my own. Definitely gave me peace of mind knowing everything is properly documented if questions ever come up later. For anyone in a similar boat with trading questions, worth checking out.

If you end up deciding you need to file and have questions for the IRS, good luck getting through to them! I spent THREE DAYS trying to get someone on the phone about a trading question last year. Finally found this service called Claimyr (https://claimyr.com) that got me connected to an actual IRS agent in about 20 minutes. They have a video showing how it works here: https://youtu.be/_kiP6q8DX5c Basically they navigate the phone system and wait on hold for you, then call you when an actual human at the IRS picks up. Saved me so much frustration, and the agent clarified exactly what I needed to report for my trading activity. Even for small amounts, sometimes you just need a definitive answer from the source.

Ok I need to eat my words from before. After another failed attempt to reach the IRS myself about some trading questions (got disconnected after waiting 45 minutes), I tried that Claimyr service. I ACTUALLY got through to someone at the IRS in about 30 minutes without having to sit there listening to their hold music. The agent confirmed that for my situation (similar to OP but with about $120 in gains), I technically should report it but I'm under no obligation to file a return if my total income is under the standard deduction. She also mentioned that the 1099-B from my broker would be matched in their system, but amounts this small typically don't trigger any follow-up if there's no other income requiring filing.

Don't forget to check your state filing requirements too! Federal and state can be totally different. Here in MA, the filing threshold is much lower - like $8,000 - so even though you might not need to file federally, you could still be required to file a state return for those gains.

Something nobody's mentioned - are you SURE you only have $67 in gains? Did you account for wash sales correctly? Day trading often triggers wash sale rules which can mess up your calculation of actual gains/losses. Might be worth double checking this before deciding whether to file.

If you're being claimed as a dependent (like if your parents claim you), the rules are different! Dependents have to file if they have unearned income (which stock gains are) over $1,250. Something to consider if your parents are claiming you.

Hey Liam! I was in a really similar situation last year - grad student with minimal trading gains (mine was around $85). After doing a lot of research and even calling the IRS (eventually), here's what I learned: Since you're under the standard deduction threshold ($14,350 for single filers in 2025), you're technically not required to file a federal return. However, your broker will still send a 1099-B to both you and the IRS showing your trading activity. The key thing is - even though you don't have to file, it might actually be worth filing anyway for a couple reasons: 1. It creates a paper trail showing you properly reported everything (peace of mind) 2. If the IRS ever questions the 1099-B they received, you'll have documentation 3. It's good practice for when your trading gets more complex For just $67 in gains, your actual tax liability would be maybe $7-15 depending on your situation, so it's not about the money - it's about being thorough. Plus, if you use free filing software, it's really not that much extra work. One last thing - definitely check if you're claimed as a dependent somewhere else, because that changes the rules significantly!