These idiots with their tax forms

[reno cool]

I thought they were supposed to make this thing simpler.
Apparently you have to file more "schedules" and then the results from those schedules on other schedules, before putting them on the form.
Nevermind that they added schedule 1 and 2 that previously were not needed, I didn't realize buying/selling a few stocks is a whole new headache with the forms.

 

[Boner_18]

Reno, I'm surprised you aren't working the tax code like a 9/6 Jacks or Better machine with a loyalty card. It's not much different.

 

[reno cool]

Yeah no. I'm lucky I'm able to sort through all the various forms and instructions, let alone being able to take advantage of anything.
the $300 I theoretically made on stocks, is not worth the paperwork

 

[Boner_18]

Simple. Don't declare it. This isn't tax or legal advice but if your not in the top income bracket your chance of getting an audit in the next 7 years is virtually zero.

 

[tullamore]

I still don’t understand why if I sell a stock and reinvest my principle and profit I need to pay taxes that year. You should only have to pay taxes when you withdraw from your investment account like Roth’s and 401ks

 

[reno cool]

I was hoping it was something like that. But at least don't make a brother file 2 extra forms for lousy 300$ that was reported anyway.
Let me simply post it under capital gains on 1040

 

[roguejuror]

IRS Guidance for Thieves, Drug Dealers, and Corrupt Officials

IRS Guidance for Thieves, Drug Dealers, and Corrupt Officials. IRS Publication 17 helps taxpayers determine how to report their income, is very detailed.

taxfoundation.org