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Old 03-24-2011, 10:18 PM
 
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question about NYC Unincorporate Business Taxes. I would like to form a partnership with a friend to trade stocks. If we had a profit, would we be subject to nyc unincorporated business tax?
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Old 03-25-2011, 07:40 AM
 
Location: Brooklyn, New York
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Why would you form an official partnership if all you gonna do is trade stocks? All you have to do is just individually declare your capital gains from the form you'd get from your stock broker, plus 1099 DIV for dividends. At least thats what I'd do.
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Old 03-25-2011, 01:20 PM
 
7 posts, read 20,266 times
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Originally Posted by Gantz View Post
Why would you form an official partnership if all you gonna do is trade stocks? All you have to do is just individually declare your capital gains from the form you'd get from your stock broker, plus 1099 DIV for dividends. At least thats what I'd do.

Day trading requires 25k minimum balance (we cannot do this on our own), and if we formed a partnership we would be splitting all the cost of each trade which is around $5 per trade. And would like to have each of us file our own taxes instead of possibly putting one of our situations where we make gains and put ourselves in the next tax bracket.
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Old 03-25-2011, 03:00 PM
 
7 posts, read 20,266 times
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i found my answer, partnership would have to pay this tax.
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