Quote:
Originally posted by mrap1
OK, now that the basics have been cleared up, how does the tax thing work? I generally fill out either a 1040ez or a 1040a at the end of the year. Would I have to calculate how much profit I made at the end of the year and file it in my taxes? Will I have to fill out a different tax form?
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You'll get end of year statements from your brokerage detailing your earned interest or capital gains. Just use those numbers in the appropriate places on the 1040 you use.