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.
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
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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.