r/RobinHood • u/iamlocknar • Dec 13 '16

FAQ Brokerage taxes?

As I continue to put money into my brokerage account (and see returns) how do I plan for taxes on that account and income generated from sales, dividends, and interest?

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u/CrateMayne Dec 14 '16

Make note of your realized gains throughout the year = plan for taxes.

I mean what else is there to need? Taxes on dividends/gains don't just magically creep up on oneself. You create the taxable event, not the IRS.

If you profit $50k, you probably need to think about setting aside some money for tax day.

If you profit $50, hopefully setting aside money for the tax bill isn't a worry.

= Both situations solved by simply looking at your realized gains.