How do I categorize my payments to Robinhood App? Are those "business" or "personal"?
I am a self-employed tutor but I also bought some stock using Robinhood App, are my payments to Robinhood "business" or "personal"? I don't know how to categorize that expense.
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2 Replies
JulieS
Expert Alumni
Feb 26, 2020 4:36:20 PM
Those payments are personal. They are your investment in the stocks you are purchasing, so you will probably recover that money when you sell the stocks.
That is very different from a business expense.
Critter
Level 15
Feb 26, 2020 4:44:42 PM
Investment expenses are personal and no longer deductible.