Why is TDAmeritrade asking for social security? Is it really needed?

First time investing.

Other answer:

harley:
Well, they HAVE to ask for that info due to 1099's-i.e. tax purposes. And it is totally legit.
Eva:
Of course they need it, They have to report all your sales transactions to the IRS along with any dividends you might receive.
Bob:
They have to have it for tax purposes
Judy:
yes, to provide your broker statement to you and the IRS
Rinkydink:
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.
Pork-chop of Doom:
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?)

Wayne Z:
Yes.

It is for tax purposes. They need to report any dividends and gains to you and the IRS.

Andy L:
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.

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