Can I invest my annual salary? Lets say i make 50k a year, can i invest 50k in stocks in a brokerage account? If so, will it cause a problem from the IRS? thanks.
You'll need to sign in or create an account to connect with an expert.
You can do anything with your after tax earned income.
You can do anything you want with your money. But if you put it in a 401K or IRA accounts there is a max you can contribute. You should talk to an investment or financial adviser.
Oh but your salary will still be taxable unless you put some of it in a 401K account. Are you a W2 employee or 1099?
Of course - you can do anything you want with your after-tax money. You do not report where you spend or invest your money.
What gets reported is stock sales and any capital gains when the securities are sold whenever in the future that may be.
The only reporting are gifts that exceed $15K in a year to only one person and that is not on an income tax return.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
t2pineda
New Member
smroyal96
New Member
mgc6288
Level 3
catdelta
Level 1
Laserman924
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.