topic Invest Annual Salary in Investors & landlords

Invest Annual Salary

rm123 — Mon, 29 Jul 2019 17:54:11 GMT

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.

Re: Invest Annual Salary

DoninGA — Mon, 29 Jul 2019 18:03:54 GMT

You can do anything with your after tax earned income.

Re: Invest Annual Salary

VolvoGirl — Mon, 29 Jul 2019 18:04:08 GMT

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?

Re: Invest Annual Salary

macuser_22 — Mon, 29 Jul 2019 18:07:19 GMT

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.