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Can you trade stocks as an investor while collecting unemployment?

Posted by admin in Finance Wednesday, 14 September 2011 10:44 4 Comments

I live in California collecting unemployment. I am still short money at the end of the month and have been selling stock to make up the difference. I know that it is legal and not reported as earned income. The questions is if it is permitted to buy and sell stocks as an investor as defined by the IRS and still collect unemployment. I am running out of funds and would like to reinvest my funds if allowed.

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This entry was posted on Wednesday, September 14th, 2011 at 10:44 and is filed under Finance. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

4 Comments

  1. 09/14/2011 11:06
    posted by Henry

    no

  2. 09/14/2011 11:13
    posted by A nobody

    Yes you can buy and sell securities while collecting unemployment.

    Although amount of ones income and the source of such income is required information when opening a new account, once the account is opened there are no income or source of income requirements to have a general account.

  3. 09/14/2011 11:32
    posted by Jim Z

    Yes, you can trade. Collecting unemployment and trading in stock have no relationship. BUT one just doesn’t buy a stock and hope it goes up. If that is your game, go to Vegas.

  4. 09/14/2011 12:06
    posted by Diagnostic Ddt

    Yes you can. I live in California myself and collecting unemployment. On the form, there is a section and it ask, have you earn anything for certain period. Earning is when you work and make money. Investing is investing.