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Level 1
July 9, 2020
Question

If I am investing my income into stocks or options, is that tax deductible? If so, how does it work?

For instance, I invest using Robinhood or TD Ameritrade.

2 replies

Level 15
July 9, 2020

The purchase of an asset is not a taxable event. But selling that asset is and must be reported as well as any income produced by that asset unless specifically tax exempt. 

fanfare
Level 15
July 10, 2020

Hey, no deduction for putting your money into the Stock Market.