What are the tax implications for micro-investment apps such as Betterment?

robert-ruiz-19 — Thu, 06 Jun 2019 00:22:41 GMT

What kind of taxes would I expose myself to? When would I have to include them in my tax filings? Is it worth the tax exposure?

From a tax perspective, Betterment is no different from a...

KenH1 — Thu, 06 Jun 2019 00:22:42 GMT

From a tax perspective, Betterment is no different from any other financial institution/brokerage. They will send you a 1099-B for your capital gains and losses, a 1099-DIV for your dividends, and a 1099-INT for your interest. All of this is taxable income and should be reported.

For retirement accounts such as IRAs and Roth IRAs, none of the above will happen. You would only report contributions and withdrawals from the account.

topic What are the tax implications for micro-investment apps such as Betterment? in Investors & landlords

What are the tax implications for micro-investment apps such as Betterment?

From a tax perspective, Betterment is no different from a...