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Brokerage Account tax question
Posted on 4/2/15 at 1:20 pm
Posted on 4/2/15 at 1:20 pm
I recently opened up a brokerage account with Vanguard to get in on some O&G stocks. My question is, at the end of every year do I need to account for any gains/losses on my taxes? I went through Vanguard since that is who my IRA's are through, so I wasn't sure if they would sent out a statement at the beginning of the year for this purpose?
1
Posted on 4/2/15 at 1:45 pm to TigerSaint1
to my knowledge, you only gain or lose when you sell the stock/fund you bought into. however, there always will be taxes on the dividends. vanguard should send you a 1099 for those in January.
Posted on 4/2/15 at 2:18 pm to Sandy_Ash
But if I'm reinvesting all dividends, would there still be a 1099?
Posted on 4/2/15 at 2:21 pm to TigerSaint1
quote:yep, you are still getting "paid" those dividends, therefore it's income
But if I'm reinvesting all dividends, would there still be a 1099?
Posted on 4/2/15 at 2:23 pm to TigerSaint1
Yes
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