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Thread: Need Tax Advice

  1. #1
    kcred11
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    Default Need Tax Advice

    I'm new to all the exchange markets and have only filed taxes once in USA. I would appreciate if someone who files their own taxes in USA would walk me through the motions for filing for forex gains and losses. I've googled it and spent hours looking at advice and whatnot, but none of it is really conclusive on what to do. Any help is appreciated.

  2. #2
    Piplet bealeplatypus's Avatar
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    usually i take the total amount minus loss what whatever amount I get at the end of Dec 31. use it on "schedule D" form put amount and total (P/ or (L) and put there oh and also place the name of the copy such as oanda or something. But must supply a copy of total for dec. since it's the last month of the year. example 12/31/08 (500.00) Oaxxxda. you know what i mean.

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    I don't worry about taxes. because I still haven't got sensible profits :P

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    Quote Originally Posted by kcred11 View Post
    I'm new to all the exchange markets and have only filed taxes once in USA. I would appreciate if someone who files their own taxes in USA would walk me through the motions for filing for forex gains and losses. I've googled it and spent hours looking at advice and whatnot, but none of it is really conclusive on what to do. Any help is appreciated.
    How much You need min For Tax applicable on your Area
    I didn't get much profit in Forex
    Don't have problem on TAx
    sorry for my bad english

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