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Tax Treatment & Rules

How can I select a tax lot for a closing trade? (FIFO & LIFO)
As “cute” as FIFO & LIFO may sound, they are not the names of stuffed animals. Instead, they are more commonly referred to as “First-In-First-Out” or “L...
What is a Wash Sale and how does it affect my taxes?
A wash sale, in a nutshell, is a rule created by the IRS (Publication 550) that prevents investors from forming artificial losses. There are some things to ...
How is my Cost Basis Reported?
Any security purchased at tastyworks will be listed in Form 8949, which is included in your Consolidated Form 1099-B. Your tax forms may also contain any ad...
How are exercises, assignments, and rolling trades taxed?
Tax Treatment for Exercise, Assignments, and Rolling Trades Booking profits or losses from buying to close a short position or selling to close a long po...
Where are my total commissions & fees listed in my Consolidated 1099?
Are you reviewing your Consolidated 1099 and are wondering where your total commissions and fees list in your tax forms? Well, look no further than your P...
What is Short-Term & Long-Term Capital Gains/Losses and 1256 Contracts?
Tax treatment for short-term capital gains/losses is considerably different from long-term capital gains/losses. Let’s break down what defines a short-term ...
How to Report Section 1256 Contracts (Futures and Cash-Settled Index Options)
Whether you are filing taxes the old fashioned way using paper forms or using tax software, you'll want to keep in mind that you file your gain or loss...
How are Dividends Taxed?
When it comes to owning stock, everyone deserves his or her slice of the pie in the form of a dividend, but that’s if the company pays one. Dividends come i...
Why do I have a Substitute Dividend Payment?
What is a Substitute Dividend Payment? AKA "Sub Payment, DIV" on Form 1099-MISC Did you receive a dividend in your margin account, but for some ...
How are referral credits taxed?
Whether you redeem your referral credits for cash award(s) or prize item(s), both are subject to taxes. That means if you received a cash reward(s), a prize...