I am a newbie to stock and options trading. I trade on Robinhood (I guess the tax system should be same regardless the platform). It would be great to have answers on these questions. Thanks in advance!
Should I pay tax on dividend and/or capital gains on taxes/options earned right away or should I wait till the tax filing season? Someone mentioned that I need to pay the tax accrued on the capital gains right away in EFTPS. I know how to compute the tax based on my income bracket. Now I computed the tax on my short/long term taxes on the trading and pay it to EFTPS directly or can I wait to file in April? And is there any caveat that I need to be aware of? Suppose my estimated tax did not exactly match the real tax that will be reported on 1099 provided by robinhood. In that case, what should I do?