How Much Tax Do I Owe on Reddit Stocks?
Reddit has been thrust into the spotlight in recent weeks as an unlikely source of stock advice. The site made headlines when a group of users from a sub-forum called r/WallStreetBets got together and orchestrated a short-squeeze on GameStop (NYSE: GME) that cost hedge funds billions. But that's not the only trading advice people share on the site.
Now, ideally, you won't be selecting your investments solely based on advice from Reddit (or from any other random internet forums). That's because you'll want to develop your own informed investment strategy and be careful about where you obtain financial information that helps you do that.
That doesn't mean you won't ever make money from Reddit stocks. And if you do happen to earn a profit from investments you heard about on the site, you'll need to understand the taxes you could owe.
Source Fool.com
