Stocks & InvestmentsJun 7, 2023
Taylor FarmsMuut
Does robinhood gold complicate your taxes?
They have this option to generate interest on your unused money if you buy Gold. Is it worth it? Does this generate an extra tax document ?
It will just be reported on 1099-INT, and it is consolidated on a single 1099 for all of your RH account stuff
Taylor Farms Muut OP Jun 7, 2023
Thank you! Does cash get locked in any way or is it liquid while generating the current 4.65% yield?
It is completely liquid and you can withdraw it or invest it any time
It will complicate your life. Tempt u to do stupid things. Devil in disguise. Dont go near it
I don’t do leverage and it will not tempt me. I just want it for the interest on my unused buying power. Do you have bad stories playing with leverage?
Yea. It was all rosy when the value increased. The moment stocks were falling it was bad. You will have to pay a lot of money to get out