GO
Help
Zecco.com » General Investing » Tax Matters » Help a newb with taxes
Last post 04-07-2008, 4:51 PM by NCWV. 2 replies.
Previous   Next
Content Name: ForumThreadInternal
Preview Revision #:
Active Revision #:
Edit Content

  •  04-01-2008, 2:46 PM 26173

    Help a newb with taxes

    Reply Quote
    Hello,

    This is my first year investing and I have only bought stock without selling it. Do I have to still claim it on my tax return?

    Thank you

  •  04-01-2008, 2:54 PM 26175 in reply to 26173

    Re: Help a newb with taxes

    Reply Quote

    Unless you received dividends from the stock you have no income.  Therefore you don't have anything to report.  You should keep your confirmations from whenever you buy or sell anything.  You should keep all your monthly statements.  You should keep the Composite Form 1099 which they sent to you a month or so ago.

    While you don't need all these documents to substantiate your income tax return they are useful if for any reason something gets misplaced.  I keep all my confirms in a separate file.  All the statements are kept in a different file in a different file cabinet.  And the 1099s are kept with my tax return file.  As a result I am confident that I can find any info needed even years after the trades took place.

  •  04-07-2008, 4:51 PM 26536 in reply to 26173

    Re: Help a newb with taxes

    Reply Quote
    The only time taxes must be claimed is when dividends are paid or stocks are sold within the calendar year related to the taxes.
Content Name: StandardBottom
Preview Revision #:
Active Revision #:
Edit Content

Terms of Service - Privacy Policy

Market data and delayed quotes are powered and implemented by Interactive Data Managed Solutions. All historical chart data, quotes, daily updates, company data and news provided by Interactive Data or partner companies of Interactive Data. Quotes are delayed, except where indicated otherwise. Delay times are at least 15 minutes for NASDAQ, 20 minutes for NYSE and Amex.

All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Neither Zecco nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance upon information contained herein. By accessing the Zecco site, you agree not to redistribute the information found therein.

Options involve risk and are not suitable for all investors. Please read Characteristics and Risks of Standardized Options.

System response and access times may vary due to market conditions, system performance, and other factors.

Investors should consider the investment objectives, risks, and charges and expenses of a mutual fund or ETF carefully before investing. A mutual fund/ETF's prospectus contains this and other information, and should be read carefully before investing.

Zecco.com is a financial portal of Zecco Holdings, Inc., which also provides access to Zecco Trading. Zecco Holdings is not a securities broker/dealer. All securities and investments are offered by Zecco Trading, Inc. Member FINRA/SIPC. At Zecco Trading, you can make up to 10 free stock trades in any one month that you maintain a $2500 minimum account net equity. After that, you pay only $4.50 per stock trade. Options trades are $4.50 plus $.50 per contract. Only the first account of any account type is eligible for the Zecco Trading, Free Trading program. Any multiple accounts of the same type with the same registration are not eligible for the free trading program. Free Trading Program is only available through Zecco.com. $0 minimum to open cash and IRA accounts. Margin accounts require a $2,000 minimum balance for opening and trading on margin. Margin trading involves risks and is not suitable for all accounts. No consideration was paid for any testimonials displayed on this website. Your experience may vary, and the testimonials are no guarantee of future performance or success.

© 2006-2008 Zecco Holdings, Inc. All rights reserved.