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M
miclase2016
February 26, 2020
Question

How do I categorize my payments to Robinhood App? Are those "business" or "personal"?

  • February 26, 2020
  • 1 reply
  • 0 views
I am a self-employed tutor but I also bought some stock using Robinhood App, are my payments to Robinhood "business" or "personal"? I don't know how to categorize that expense.

1 reply

J
JulieS
February 27, 2020

Those payments are personal. They are your investment in the stocks you are purchasing, so you will probably recover that money when you sell the stocks.

 

That is very different from a business expense.

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Critter
Critter
Employee
February 27, 2020

Investment expenses are personal and no longer deductible. 

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