Taxes on options as a Teen

[TeencelStockBroker]

How do I file taxes on money I make doing options as a teen, or do I just not have to at all. I know other guys that do it and don't pay taxes in my school but my dad probably won't let me do it without paying taxes.

I probably won't even make that much anyway. maybe like 200 or something a month so I can buy rep shoes and clothes

 

[thereallegend]

What's options??

 

[kysmog]

What's options??

options trading
stocks

 

[thereallegend]

options trading
stocks

jfl at paying capital gains on that

make them chase you like @AlexBrown84

 

[케이제이]

you're making money from options trading? that's a first

 

[chadintraining]

you're making money from options trading? that's a first

One of my dad’s friends became very wealthy off of it, so it is def possible

 

[TeencelStockBroker]

you're making money from options trading? that's a first

Barely but still, I just use it to buy shoes and clothes

 

[AlexBrown84]

jfl at paying capital gains on that

make them chase you like @AlexBrown84

i still haven’t paid my 1099 tax return of $120,000 ahahahaha

 

[Deleted member 19453]

Yes. It’s capital gain. Literally everything in America is taxed. If you sell your house for more than you bought it, that’s capital gain and you have to pay taxes.

 

[AngryShortMale]

Barely but still, I just use it to buy shoes and clothes

Dumb ass shit.

Save your money bro instead of wasting it on garbage like that.

 

[synock21]

YOu prolly wont legally be able to buy/sell open/close options trades as a minor, you'll have to do them under a parent guided account. Just make your dad do them

 

[Harold O'brien]

There is a minimum threshold for CGT. Look it up for your jurisdiction

 

[shalomnigga]

How do I file taxes on money I make doing options as a teen, or do I just not have to at all. I know other guys that do it and don't pay taxes in my school but my dad probably won't let me do it without paying taxes.

I probably won't even make that much anyway. maybe like 200 or something a month so I can buy rep shoes and clothes

Gamble all of it 0DTE Spy 500 calls trust bro easy money

 

[TeencelStockBroker]

Dumb ass shit.

Save your money bro instead of wasting it on garbage like that.

I already have roth IRA, savings account and a college fund. I'm just trying to make money for myself

 

[BoredPrince]

i still haven’t paid my 1099 tax return of $120,000 ahahahaha

Wait, you made money trading options?