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> I did a little bit of Robinhood "investing" with a small amount of money during the pandemic just for grins, thinking everything would be neatly wrapped up on
by vineyardmike 5y ago
> I did a little bit of Robinhood "investing" with a small amount of money during the pandemic just for grins, thinking everything would be neatly wrapped up on a 1099 form, but I accidentally found myself with an unexpected, incomprehensible (to me) "contracts or straddles" 6781 tax form to fill out, all because I made $25 in a specific type of fund
I've had the exact same experience, but with a K-1 (?) document. It basically meant i was a partner of an LLC i think, and it ended up being a TON more work, and i got charged more from turbo-tax... so i ended up losing money on that investment.
Worst part is that the company mailed me a paper document instead of from robinhood over digital medium, so i had to transcribe like 10 docs.