I have been seriously trading options since the beginning of the year but I am having a hard time understanding my tax responsibilities. Initially i figured the same as all other years, get my paperwork from etrade and everywhere else to my tax person (family member).
Now i am hearing i need to pay quarterly, well the first two quarters are over. Idk what the threshold is where i need to switch from status quo to paying quarterly is but i’m making a lot of guacamole over here, well it’s a lot to me anyway.
Married filing jointly, usually we get a sizeable refund and i figured this would maybe just wipe out the refund but now i’m questioning that based on the sheer amount of guacamole.
I am not opposed to paying a tax person to do this, i’m going to try to meet with the family member about this one last time before switching.
Any advice would be helpful!