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Tax Season
How Do Free Stocks from Webull’s Promotion Programs Affect My Taxes?
How Do Free Stocks from Webull’s Promotion Programs Affect My Taxes?

The free stocks you receive through the promotional programs may be reported as miscellaneous income in your Form 1099-MISC (which is included in Consolidated 1099). There is an IRS de minimis rule for other income. The threshold to report free stocks is $600. If your total free stocks valued at less than $600, you may not be issued a Form 1099-MISC.

As with all tax forms, you’ll be able to download a consolidated Form 1099 (which includes the Form 1099-MISC) starting in mid-February of every year.

If you sell the free shares you received, this will be reported just like any other stock sale in your account.

The cost basis of the free stocks will be the market value of the stocks when we grant them to your account.

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