this post was submitted on 12 Sep 2024
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I tell you how it works in my shitty eastern european country:
That's all. Usually takes less than 5 minutes for the whole process.
I thought it was crazy that the report had entry on how much money I lost with my investments and that was deducted in my taxes. I've never told them that I've traded stocks and still the tax man knows my money shit better than I do.
In the US, brokerage companies legally have to send you a Form 1099 which covers all investment income over the year. You then include this when submitting your taxes. They probably send a similar report to your government instead.