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Category: Taxes

M1 Finance Taxes Explained 2023: How Are Investment Taxes Handled?

By Ed Canty, CFP® on February 5, 2023
When you sign up for an M1 Finance account, you have to give them certain information like your name, address, and social security number. This means that they are in fact reporting your investment activity to the IRS, which they have a legal obligation to do. That being said, it is important to understand and […]
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Fundrise Taxes Explained 2023: How Are Investment Taxes Handled?

By Ed Canty, CFP® on February 4, 2023
*Investing Simple is affiliated with Fundrise and Fundrise will pay us a commission if you decide to invest with Fundrise. The author of this article is not an investor in Fundrise* When investing with Fundrise, it is important to understand what specific types of Fundrise investments are in your portfolio. This will determine how your […]
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How To Calculate Taxable Amount Of An IRA Distribution

By Roger Wohlner on February 2, 2023
Some of the most well-known investment vehicles, known as IRAs, offer an opportunity to save for retirement in a tax-advantaged way. Whether it is tax-deferred or tax-free, these vehicles can help you secure a wealthy retirement. While both a Traditional and Roth IRA offer great tax advantages for those focused on growth, users need to […]
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Betterment Taxes Explained 2023: How Are Investment Taxes Handled?

By Ed Canty, CFP® on February 2, 2023
Betterment is required by law to report your investing activity to the IRS. However, that does not remove you from your obligation to file your own taxes for your investments. This involves inputting information on the forms sent to you from Betterment.  To make things easier for you when it comes to taxes, Betterment allows […]
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Robinhood Taxes Explained 2023: How Are Investment Taxes Handled?

By Cari Scribner on January 31, 2023
With the vast number of new online trading companies, many are left wondering how taxes will work come April. With Robinhood, it is actually fairly simple. In mid February, you will be able to download all relevant tax documents, which you can then present to your CPA or use when you file online. So, how […]
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Webull Taxes Explained 2023: How Are Investment Taxes Handled?

By Jason Dolan on January 30, 2023
Filing your taxes associated with Webull is the same process as it is with many other financial institutions. Webull will send you an email notifying you that your tax documents are ready for download. These documents show your overall trade outcomes for the year. You are then required to take that information and document it […]
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