Comments on: Do I have to pay taxes on a difference in currency exchange rate? Let’s say I bought euros and in a year from http://www.currencyexchangemarket.com/blog/do-i-have-to-pay-taxes-on-a-difference-in-currency-exchange-rate-lets-say-i-bought-euros-and-in-a-year-from/ Wed, 08 Feb 2012 21:45:37 +0000 http://wordpress.org/?v=2.7 hourly 1 By: Dr. Deth http://www.currencyexchangemarket.com/blog/do-i-have-to-pay-taxes-on-a-difference-in-currency-exchange-rate-lets-say-i-bought-euros-and-in-a-year-from/comment-page-1/#comment-1897 Dr. Deth Wed, 04 Nov 2009 12:12:42 +0000 http://www.currencyexchangemarket.com/blog/do-i-have-to-pay-taxes-on-a-difference-in-currency-exchange-rate-lets-say-i-bought-euros-and-in-a-year-from/#comment-1897 any gain at the time you cash them in would be taxable - not sure if that would be considered capital gains or other type of income<a href="http://www.myislandholiday.com/canary-island-holidays.htm"> Dr. Deth</a> any gain at the time you cash them in would be taxable - not sure if that would be considered capital gains or other type of income Dr. Deth

]]> By: StephenWeinstein http://www.currencyexchangemarket.com/blog/do-i-have-to-pay-taxes-on-a-difference-in-currency-exchange-rate-lets-say-i-bought-euros-and-in-a-year-from/comment-page-1/#comment-1896 StephenWeinstein Mon, 02 Nov 2009 12:16:50 +0000 http://www.currencyexchangemarket.com/blog/do-i-have-to-pay-taxes-on-a-difference-in-currency-exchange-rate-lets-say-i-bought-euros-and-in-a-year-from/#comment-1896 My guess (I do not know) is: You do not pay tax every year that you hold an asset, but when you sell the Euros or exchange them for a third currency (or spend them), you pay capital gains tax at that time based on the difference between what you paid for them and what you get for them.<a href="http://www.resumeminers.com/Job-Search.htm"> StephenWeinstein</a> My guess (I do not know) is:

You do not pay tax every year that you hold an asset, but when you sell the Euros or exchange them for a third currency (or spend them), you pay capital gains tax at that time based on the difference between what you paid for them and what you get for them. StephenWeinstein

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