Monorail’s Portfolio and Stock features are considered taxable brokerage accounts and are taxable for realized capital gains.
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The IRS says that any income you earn or receive from capital gains and “other applicable distributions” from a brokerage account is considered taxable income.
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If you use Monorail Portfolios and/or Stocks, we will send you a tax statement for you to appropriately file with your other financial documents. To learn more about the documents you will receive and where to locate them, please log in and follow this article.
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(This information should not be considered legal or tax advice. Monorail does not, cannot, and should not provide such advice. If you have any questions, please contact a certified legal or tax professional before you plan on filing.)