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I have a question about income taxes that I hope you may be able to help me with:
If a person's income is so low that he does not have to file an income tax return, but he has earned a
couple thousand dollars on the sale of stocks, would he have to file a return anyway since stock
profits are capital gains? In other words, does a person always have to pay capital gains tax when he
sells stocks at a profit, or are stock-sale profits looked upon as just another form of income when
the person's total annual income (including stock profits) is less than the minimum amount required to
file a tax return?
I would very much appreciate it if you can answer this for me.
Thank you. Scott
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