taxes on forex

  1. ElaineMDG

    UGHH...US Taxes question

    OK, First, sorry, I understand this is only applicable for US traders: but I gotta ask. I got my once-a-year phone call from my brother several hours ago. Long story short, instead of "Happy Birthday!", I got a LONG lecture about how FOREX trading is going to screw-up whatever life I have left...
  2. R

    Tax Questions

    Hi all. I am a US citizen from SC and I was wondering if there are any legal ramifications of NOT paying taxes on forex capital gains. Does anybody else withdrawal money from trading account earnings? Normally, I will withdrawal $150 - $500 a week from my trading account without paying taxes...
  3. R

    Question on FOREX profits and US TAx treatment

    Hello. I am new to trading FOREX...have been successfully DEMO trading for 3 months now and I'm planning on 'going live' within the next 6 weeks. One of the ongoing questions I've been researching is how to declare Forex profits on my US tax return. It seems that there are 2 IRS rules...
  4. rpaco

    Tax issues for Forex Traders in the UK

    Would anyone like to relate their experience of dealing with HMRC re their Forex trading profits/losses and how you do (or do not) declare them to the tax man. I believe they are taxed as income, but I may be wrong and they may be taxed as Capital gains. However in order to avoid any...
  5. Black Knight

    Tax Issues for Forex Traders (USA)

    Since this question comes up quite often, I thought I'd briefly cover the basics. First, let me preface by saying I am not a tax or accounting professional, and I highly suggest that you consult one prior to following this or any other tax-related advice. I happen to know one of the best...