Taxes for a jobless student investor?

Question

Does a 21 year old student - being an alien US resident who has no job (!) - have to pay taxes on investment profits?

The student uses capital from personal savings of the past 12 years of accumulated parent allowances/pocket-money.

Answer 1

If you meet the filing requirements, then yes.  You need to become familiar with IRS Publication 519 which will answer all your tax questions while you are here.  Most of my alien clients know it better than I do!

Answer 2

yes, you still have to pay taxes. as a resident alien you do have to file. also not having a job doesn't affect anything about this situation.

Answer 3

If your profits, dividends, etc were more than $250 for 2007, then yes, I believe you should've filed a return...check out the "individuals" page on www.irs.gov for all the info and answers to your filing questions :)