Everyone likes to get something for free, and that includes investors. What if I told you that you could get free stocks from some brokerages? It is a little hard to believe at first, but it makes sense.
How do you earn the free stocks? Actually, it is fairly easy. In most cases, all it takes is just signing up for a new brokerage account using a promotion code or referral link and meeting the minimum requirements.
Tax ConsequencesThere may be tax consequences of receiving free stocks since it counts as other income in your tax return. You also may have capital gains if you later sell the stock at a higher price than when you received it.
Acorns – More Micro-investingYou may have heard about Acorns since the investing app has received a lot of press for planting oak trees and is backed by big-name investors, including some actors and athletes.You can receive free cash of $5 for signing up and making your first investment. You can take the $5 and buy free stocks with it.