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Duration: 7:17

Level: Beginner

This initial lesson will give you an overview of what will be discussed in the US Taxes for Traders and Investors course. Refer to the Study Notes for an online outline.

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Study Notes:


Savings and bond interest
Certificates of Deposit and Commercial Paper
US Treasury bills, notes and bonds
Muni interest and the AMT
Amortization of market premiums and discounts
Original Issue Discounts (OIDs)


Ordinary Dividends
Qualified Dividends
Dividends from Money Markets
Dividends from Mutual Funds
Reinvested Dividends – including Automatic Dividend Reinvestment Plans (DRIPS)
Payments in Lieu (PIL) – received

Capital Gains – Stocks and Mutual funds

What are tax lots?
Tax lot methods
Holding periods
Tax rates

Capital Gains – Bonds

US Treasuries
Corporate Bonds
Bond discounts and premiums

Capital Gains – Special Considerations and Products

Calculating basis – what to do when a security isn’t covered
Wash Sales
Index Options – IRC Section 1256

Foreign Exchange gain and loss

Publicly Traded Partnerships and ETF Trusts
What are they (definition)?
Why are they different and how does this impact taxation?
Distributions (Dividends)
Return of Capital
K-1 information
Cost Basis for gain and loss on sale
New Section 199A 20% business income deduction

Net Investment Income Tax

Who it impacts?
What income is subject to this tax?
Special consideration for partners/businesses

Trading Expenses

Payments in Lieu (PIL) – paid
Margin interest
Stock borrow/loan fees
Advisory fees
Account fees

Tax status – Are you an investor or a trader?

What is an investor?
What is a trader?
Advantages/ Disadvantages
Tax and Audit considerations
Section 199A 20% deduction

Retirement Accounts

Types of Accounts
Tax Considerations


Disclosure: Interactive Brokers

The analysis in this material is provided for information only and is not and should not be construed as an offer to sell or the solicitation of an offer to buy any security. To the extent that this material discusses general market activity, industry or sector trends or other broad-based economic or political conditions, it should not be construed as research or investment advice. To the extent that it includes references to specific securities, commodities, currencies, or other instruments, those references do not constitute a recommendation by IBKR to buy, sell or hold such investments. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.

Supporting documentation for any claims and statistical information will be provided upon request.

Any stock, options or futures symbols displayed are for illustrative purposes only and are not intended to portray recommendations.

Disclosure: Tax-Related Circular 230 Notice

The information in this presentation is provided for informational purposes only, and does not constitute tax advice and cannot be used by the recipient or any other taxpayer to avoid penalties under any federal, state, local or other tax statutes or regulations, or to resolve any tax issue.

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