Do I have to pay taxes on a difference in currency exchange rate? Let’s say I bought euros and in a year from
Posted November 1st, 2009 by admin 2 Comments »
Posted November 1st, 2009 by admin 2 Comments »
If I am based in the US, but open a Forex account in the UK do I have to pay UK taxes?
Posted August 2nd, 2009 by admin 2 Comments »
jrwax2 asked:
I’m based in the US and already have an US based FX account. Due to silly NFA rules and regulations I am thinking about opening a UK Forex account but am worried about potential taxes I would have to pay. Do I have to pay US and UK taxes if I have a UK based account and live in the US. I will not be spread betting.
I’m based in the US and already have an US based FX account. Due to silly NFA rules and regulations I am thinking about opening a UK Forex account but am worried about potential taxes I would have to pay. Do I have to pay US and UK taxes if I have a UK based account and live in the US. I will not be spread betting.
How to record Forex losses on Schedule D?
Posted July 14th, 2009 by admin 5 Comments »
John asked:
Do I need to itemize each and every Forex transaction? There are hundreds of them.
Do I need to itemize each and every Forex transaction? There are hundreds of them.
Or since I had a loss, can I just not list all the positive transactions and then also not list the same amount of negative transactions (leaving only the actual loss) ?
How do I pay income tax on ForEx earnings?
Posted April 9th, 2009 by admin 2 Comments »
aa asked:
This is my first time for paying income tax on ForEx, being a US citizen i believe i have to pay tax on forex income, but i have no clue what do i have to do for that. Thanks for your help.
This is my first time for paying income tax on ForEx, being a US citizen i believe i have to pay tax on forex income, but i have no clue what do i have to do for that. Thanks for your help.
How do I pay income tax on ForEx earnings?
Posted March 1st, 2009 by admin 3 Comments »
John S asked:
I am doing normal daily trading of EUR/USD, trades lasting a few hours on average. I am not sure if this is considered futures or securities and I therefore don’t know how to pay taxes on it.
I am doing normal daily trading of EUR/USD, trades lasting a few hours on average. I am not sure if this is considered futures or securities and I therefore don’t know how to pay taxes on it.
How do you declare your forex profits/losses on your tax returns?
Posted February 20th, 2009 by admin No Comments »
Jason B asked:
I imagine it is different than stock gains/loses on a Schedule D.
I imagine it is different than stock gains/loses on a Schedule D.
Can I put Capital Loss in Forex trading on Tax Return?
Posted February 14th, 2009 by admin 4 Comments »
nycxwes asked:
So this year I tried www.fxcm.com Forex trading and lost $1300. I was wondering if I can somehow put this on my tax return as capital loss and where I would put such an item.
So this year I tried www.fxcm.com Forex trading and lost $1300. I was wondering if I can somehow put this on my tax return as capital loss and where I would put such an item.
Can I claim losses in Forex investing on taxes and still claim the itemized deduction?
Posted February 9th, 2009 by admin 2 Comments »
D DD asked:
Would I use lines 13 or 14 on 1040 to claim Forex investment losses?
I meant “still claim the standard deduction.”
Would I use lines 13 or 14 on 1040 to claim Forex investment losses?
I meant “still claim the standard deduction.”
For instance, when I believe when itemizing deductions one can not claim the standard deduction. I’m wondering if I can claim Forex losses without giving up the standard deduction.
If i make money on the forex market, is there a tax for it?
Posted February 5th, 2009 by admin 3 Comments »
lone_wolf842@sbcglobal.net asked:
If i make money on the forex market, is there a tax for it? And if there is, how do i pay for it?
If i make money on the forex market, is there a tax for it? And if there is, how do i pay for it?
normally how much do forex traders pay in taxes?
Posted February 4th, 2009 by admin 1 Comment »
none g asked:
i know every one pays a different amount of capital gains tax. i know that in the U.S. traders usually pay between 20-30% of of their profits. what about forex traders?
i know every one pays a different amount of capital gains tax. i know that in the U.S. traders usually pay between 20-30% of of their profits. what about forex traders?