If you’re one of the millions of day traders who have jumped in and out of markets this year, check your taxes now. Many new traders likely aren’t aware they are trading in taxable accounts, where each sale has tax effects. Next year, many will be surprised to receive long tax forms for 2020. In 2017, college student Manessa Lormejuste was a little shocked to receive her first tax form from Robinhood, which ran to a dozen pages. She had no idea she could owe capital-gains tax on her trades.

Source: Wall Street Journal September 11, 2020 09:33 UTC