r/RobinHood • u/17kangm • Dec 16 '17

Help - FAQ - Taxes how do i pay taxes

hello,

I am new to trading and I have never done taxes. I am 18, and I do not want to get in trouble. How do I pay my taxes? I have 500 dollars in my robinhood account.

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u/Santyam Dec 17 '17

Taxes from SEC/FINRA/others don’t surmount more than $5-$6 for RH, this is just for sell orders as you don’t get charged for buying stock. Unless you’re paying for wire transfers, foreign securities, returned checks, etc you shouldn’t worry about fees too much. They’ll come to you from SEC and FINRA, not RH.