billy82269
Well-Known Member
I have never had anything to do with the market. I just recently thought it would be fun to put $600 or so in scott trade and do short term investments in the wildly swinging penny stocks for fun. I figure it is better odds than the casino. My question is about taxes. Is capital gains all you pay on stock profits or do they also add to your income. I would likely be making alot of little sales, so do I need to keep record myself of my buys and sales for the IRS or can the brokerage do that? The buying and selling is so easy, I just hope I don't get myself in trouble with the IRS.