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New Member
posted Jul 9, 2020 9:10:13 AM

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.

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2 Replies
Level 15
Jul 9, 2020 9:13:07 AM

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. 

Level 15
Jul 9, 2020 10:19:03 PM

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