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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
Employee Tax Expert

How do I categorize my payments to Robinhood App? Are those "business" or "personal"?

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.

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How do I categorize my payments to Robinhood App? Are those "business" or "personal"?

Investment expenses are personal and no longer deductible. 

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