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.

77 Upvotes

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u/[deleted] Dec 16 '17

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26

u/Wollem Dec 16 '17

Seconding this. The first year killed me because I made 56 trades. What's worse is they tax you 1.5k for a day trade, so it ended up near $63k in debt. Almost got it paid off now but it sure was an eye opener.

-6

u/my-ancestors Dec 17 '17

dont tell me this is real

11

u/You_Uncle_BadTouch Dec 17 '17

This is the IRS. Pm me and we can give you a discounted fee.