Income Taxes - FOREX Traders - page 2
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Contact U.S. IRS for instructions of how to handle forex currency trading. I am sure our beloved IRS will have an instruction booklet on how to report your earnings - Those blood suckers have it on everything else!
Dave
Hi,
I think FX business is free tax
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Forex Indicators CollectionDEFINITELY not free in the US! There are two ways to declare your forex income, which must be done in advance at the beginning of the tax year. It's somewhat complex. Generally, if you make no declaration, it's ordinary, taxable income.
What Income?
Does that mean I cannot deduct all my losses as well?
With all I keep pouring into this, my taxable income should be zero.
Does anyone know what form is used (in US) to make the declaration at the beginning of the year?
I am hoping 2009 will be my year!
DEFINITELY not free in the US! There are two ways to declare your forex income, which must be done in advance at the beginning of the tax year. It's somewhat complex. Generally, if you make no declaration, it's ordinary, taxable income.
It's been awhile since I looked into this because I haven't been profitable either. I think you could learn something by searching the Internet.
You pay tax where ever classed as domicile, its not taxed at source so its up to you....pay, dont pay, they may never know untill your neighbour grasse you up..
Spread betting is tax free in UK..
Forex tax infor for U.S. taxpayers
Special Tax Rules | IBFXU - Forex Education
Check the IRC 988 & 1256. I think these are the correct codes regarding FX.
You pay tax where ever classed as domicile, its not taxed at source so its up to you....pay, dont pay, they may never know untill your neighbour grasse you up.. Spread betting is tax free in UK..
Spreadbetting is awesome, but the platforms are not to my liking.
Spreadbetting is awesome, but the platforms are not to my liking.
Yes, their charting packages suck..
taxation
hi
whats the situation with tax when live trading,do you have to pay tax to the country that the broker is operating from, if so wouldn't it be best to find one in a tax free country, anyone have a list of such brokers.