With the deadline for tax season fast approaching, Americans are rushing to get their receipts and forms in order and file before April 15 comes and goes.
While many Americans find tax season relatively easy, there are plenty — particularly those with complicated incomes, dependents, or other complexities — for whom this is the worst time of year. Perhaps no group has a harder time than investors, who must navigate complicated Internal Revenue Service rules regarding equities, funds, commodities, dividends, and more.
Fortunately, 24/7 Wall St. has compiled a list of the most common mistakes made by investors that can unexpectedly increase the amount paid during tax season. Below is a guide to the 15 biggest investment pitfalls and surprises during tax season, and how to best avoid them.
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Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.