If I earned profit from foriegn exchange Forex, do I get tax?
Do I get income tax from earning money from Forex (foreign exchange)?
Most Commented Posts
- August 8, 2008 -- Should "In God We Trust" Remain On American Currency? (41)
- February 26, 2009 -- Xtian: What right (specifically) would be violated by removing "In God We Trust" from US currency? (41)
- January 27, 2010 -- Do conservatives invest in gold because they have no faith in American currency? (37)
- November 24, 2008 -- Is “In God We Trust” on US currency a true statement? (35)
- January 3, 2009 -- Should the motto “In God We Trust” be removed from U.S. currency? ? (34)
- March 17, 2009 -- R&S what do you feel about "One nation under God" on US currency? (34)
- April 21, 2009 -- What would be the impact on American society if "In God We Trust" were removed from the currency? (34)
- May 7, 2008 -- Who else thinks that "in god we trust" should be removed from US currency? (33)
- January 9, 2009 -- Are coins and currency the same thing? (30)
- March 8, 2010 -- If your good looks were currency, what could you buy? (30)
This entry was posted on Friday, September 5th, 2008 at 4:58 am and is filed under forex trading. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
September 5th, 2008 at 4:58 am
Yes.
If you held the foreign security for 1 year or under, it is a short term capital gain. If held it for over 1 year, it is a long term gain.
If I am correct, almost all forex transactions are short term.
They are reported on Schedule D, Form 1040.
September 5th, 2008 at 4:58 am
You don’t “get” tax, you PAY tax on any profits.
September 5th, 2008 at 4:58 am
Ofcourse if you earn you need to pay income tax. Check out http://www.forexfundas.com to get free trading signals. I am following their signal and it gives me good profit. Check out http://www.forexfundas.com
September 5th, 2008 at 4:58 am
Offcourse, you need to pay tax If you are earning Income,