December 26, 2008
Is online stock trading accounted for in the social security statement?
Mus24 asked:
I sometimes dabble in online stock trading from my home.I was wondering if the earnings an be accounted for in the security earnings at the end of the year?Is it true?”
Angel
I sometimes dabble in online stock trading from my home.I was wondering if the earnings an be accounted for in the security earnings at the end of the year?Is it true?”
Angel
Comments on Is online stock trading accounted for in the social security statement?
no. not unless you are a stock brokerage company.I have had several clients to have tried to make there stock trade self employment,But the IRS regulations won’t allow it,they are always treated as capital gain and do not count towards your social security
No.
Only earned income is counted towards SS benefits.
I know, you earned the trading profit, but that’s the way the IRS defines it.
If you declare yourself as a fulltime stock trader, then yes, you may. BUT - you have to pay both the employer & employee portions of Social security tax, PLUS medicare tax.
Unless you are a very successful trader, you probably don’t make enough to justify claiming your trading profit as earned income.
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