First time investing.
Well, they HAVE to ask for that info due to 1099's-i.e. tax purposes. And it is totally legit.
Of course they need it, They have to report all your sales transactions to the IRS along with any dividends you might receive.
They have to have it for tax purposes
yes, to provide your broker statement to you and the IRS
Your activity will result in you receiving a yearly 1099 form and the Federal and State Income Tax receive a copy to confirm your income. It is necessary.
You are NOT yet ready to invest, Sweetie….trust me!
(How do you imagine your Broker is going to report your gains or losses to the IRS without your SSN?)
It is for tax purposes. They need to report any dividends and gains to you and the IRS.
Taxes. Though not quite as certain as death, the vast majority of us have to pay them.
When you collect interest or dividends, or make a sell trade after a buy, the information gets reported to the IRS.
IRS works by Social Security number.
Yes, they need it.