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)
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
Capital Gains – Bonds
Bond discounts and premiums
Capital Gains – Special Considerations and Products
Calculating basis – what to do when a security isn’t covered
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?
Return of Capital
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
Payments in Lieu (PIL) – paid
Stock borrow/loan fees
Tax status – Are you an investor or a trader?
What is an investor?
What is a trader?
Tax and Audit considerations
Section 199A 20% deduction
Types of Accounts
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.