Online stock trading tax liability

C

crinard

Guest
Hi,

I have an Ameritrade online account (formerly Datek).
I have not traded in over 12 months and traded infrequently when I was.

Does anyone know what the tax liability is for online trading?
i.e. in Ireland and the US.
The online broker is holding my US tax exemption form.
At present I have about 10k in the account.

Thanks
 
Income tax applies to dividend income. Capital Gains Tax applies to any gains you make when you sell shares.
 
Because [broken link removed] holds an IRS form W-8 from you, based upon a bi-lateral taxation agreement with Ireland, no taxes are withheld. You, on the other hand, have to decide if the Irish Revenue Commissioners will ever get wind of your trading gains from the exchange of data with the IRS.<!--EZCODE BR START--><!--EZCODE BR END--><!--EZCODE BR START--><!--EZCODE BR END-->You're gambling in the market and with the taxman.
 
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