When does the tax year start and end in USA?
ML asked:
For example, when we file for tax returns for 2007, from which date to which date does the filing cover? The reason I’m asking is because I’m planning to start investing money in stocks and I don’t want to file for 2007 taxes just because of my investments in stocks as I’m not required to file for 2007 taxes because I’m not working. I need this info so that I can start investing the day after the last day of 2007 tax year. Thanks….
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For example, when we file for tax returns for 2007, from which date to which date does the filing cover? The reason I’m asking is because I’m planning to start investing money in stocks and I don’t want to file for 2007 taxes just because of my investments in stocks as I’m not required to file for 2007 taxes because I’m not working. I need this info so that I can start investing the day after the last day of 2007 tax year. Thanks….
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December 19, 2008
4:18 am
For individuals, tax years start Jan. 1 and ends Dec. 31, according to my understanding.
December 22, 2008
2:27 pm
Yes, the tax year is like calender year.. Jan 1st through Dec 31.