Michael Nigelson Posted September 24, 2020 Share Posted September 24, 2020 Hi, I would like to learn how are Forex trades taxed. Quote Link to comment Share on other sites More sharing options...
0 Lincoln Ferguson Posted September 24, 2020 Share Posted September 24, 2020 Hi, thank you for posing this question! In the United States of America, Forex is taxed on a 60/40 basis, which means that 60% of gains or losses are counted as long-term capital gains or losses, while the other 40% is taxed as short-term capital gains or losses. This is favorable for Forex traders as the profit they make in one year is counted as short term, and they are taxed a maximum 37% of their gains, on the long-term basis this amount doesn’t exceed 15%. There are also multiple benefits and other tax reliefs if you incur losses in your yearly summary, where all of these are counted as losses when being taxed, not only a portion of them. It is important to file taxes properly, using a correct form, or you may encounter difficulties and penalties. If you are not sure how to do this, the safest bet is to pay companies or individuals that will file your taxes for you. Quote Link to comment Share on other sites More sharing options...
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Michael Nigelson
Hi, I would like to learn how are Forex trades taxed.
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