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Q. What is a Traditional IRA?
A Traditional Individual Retirement Account (IRA) allows a client to invest in stocks, bonds, mutual funds, certificates of deposit, ETFs index funds etc. using pre-tax dollars. That means the client does not pay income taxes on the money they are using to invest until they withdraw the money from the account.…
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Q. Will I get in trouble if I take my money out early?
Retirement accounts can have penalties and/or taxes if you withdrawal prior to the age of 59 ½. If you have any questions, please reach out to a tax advisor to review your specific circumstances. Keep it in, let it grow!…
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Q. Are investors taxed on dividends?
Yes – dividends are taxed as income, because they are money that you are making off of the money you have invested. If you received dividends of $10 or greater, you will have tax forms. If you have any questions regarding taxes within your Stash account,…
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Q. Why will I receive a Corrected Consolidated Form 1099?
Stash customers who owned certain investments that are subject to reclassification for the appropriate tax year may receive a Corrected Consolidated Form 1099 on or around March 15, about a month after receiving your Consolidated Form 1099 in February. This part is really important: The Corrected Consolidated 1099 form that you may receive in March replaces the form you should receive in February.…
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Q. Do I have to pay taxes on my Stash Invest investments?
Stash Invest accounts are taxable brokerage accounts. You are required by the IRS to report income earned from capital gains and other applicable distributions. This means you will need to pay taxes on money you make through capital gains, dividends, and income interest.…
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Q. Are there different tax implications to owning single stocks vs ETFs?
Taxes for stocks and ETFs work the same way. You will be required by the IRS to report income earned from capital gains and other applicable distributions. Each year, Stash sends a tax statement to investors who need to file their earnings with the IRS.…
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