Tax Center

Taxation Overview

Buying and selling securities may be simple, but it takes time and research to understand how to report your transactions for tax purposes and how to factor potential tax liabilities into your investment strategy. Discover Firstrade's tax resources today!

Statements and Forms

Need help reading your Firstrade statements? You'll find everything you need here, along with mailing date information and links to your tax forms.

Tax Topics

Learn the basics about various tax situations and filing requirements.
New! Important notice regarding the April 15, 2020 Tax Filing & Contribution Deadline.

On March 21, 2020, the Treasury Department and Internal Revenue Service announced that the federal income tax filing and IRA contribution deadline date has been extended from Wednesday, April 15, 2020 to now Wednesday, July 15, 2020.

In addition to the extension of time for filing and IRA contributions, taxpayers are now also able to defer income tax payments previously due on Wednesday, April 15, 2020 until the new deadline of Wednesday, July 15, 2020 without penalties and interest regardless of the amount. For further information regarding this announcement, please see IR-2020-58 on the IRS website or https://www.irs.gov/newsroom/tax-day-now-july-15-treasury-irs-extend-filing-deadline-and-federal-tax-payments-regardless-of-amount-owed.

Important Dates
Date Event
January 31, 2020 Forms 1099R and 1099 Q are released
February 15, 2020 Combined 1099 is released
July 15, 2020 IRS Tax filing deadline for tax year 2019
July 15, 2020 2019 Traditional & Roth IRA contribution deadline
Contribution limits

2020

Below 50 yrs. old:   $6,000
50 yrs. and older:   $7,000

2019

Below 50 yrs. old:   $6,000
50 yrs. and older:   $7,000

For more details, please visit the IRS website regarding contribution limits.

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