September 25, 2011
By admin in Finance FAQ | 2 comments
Forex Question by aa: How do I pay income tax on ForEx earnings?
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.
Best answer:
Answer by tyler
Normally you need to file them as capital gains or losses (like you would with stocks or options).
But you can make a special election that will allow you to split them as 60% long terms capital gains and 40% regular income, which is advantageous for tax purposes since long term capital gains rates are lower.
http://www.onlineforextrading.com/learn-trading/forex-taxes
Know better? Leave your own answer in the comments!
Forex
Related posts:
- Forex ? How much money should you have in your FOREX acount in order to earn an income?
- Forex ? How do the tax laws work with playing the forex market with a US broker and being a Canadian resident?
- Investing ? What are the tax implications of investing in the stock market? What are the risks?
- Forex ? How do I add Forex trading to a revocable trust?
- Forex ? How to get a free trial of Megadroid Forex for my practise account on Forex Trader?
email this?|?tag this?|?digg this?|?trackback?|?comment RSS feed
Source: http://yareo.net/forex-qa-how-do-i-pay-income-tax-on-forex-earnings.html
crock pot recipes tampa bay rays susan lucci amanda knox latest news bob ward bob ward arturo gatti
কোন মন্তব্য নেই:
একটি মন্তব্য পোস্ট করুন