The IRS requires that any taxable event that takes place in your brokerage account be reported as income on your tax return.
What is a taxable event?
A taxable event is any event that results in a tax liability. The taxable events you could see on your Public account are:
Dividends
Realized capital gains
Income from either dividends or realized capital gains do need to be reported on your tax return, and are filed with your income.
You may also owe taxes on profits made from selling crypto assets, which are also considered realized capital gains.
The great news is that we've developed a Capital Gains Calculator to make calculating your capital gains even easier for you.
If you have questions at all, the team is always on standby in the app Chat or via email at support@public.com.
Please note that this is for informational purposes only and should not be considered tax advice. Public members should consult their tax advisors concerning any applicable tax laws.