News Focus
News Focus
icon url

MoneyArmedInvestors

02/27/10 7:28 PM

#55184 RE: alien-IQ #55175

Alien - You are with TOS right now correct?

They do not report forex trades, same with options.

So, take that for what it is worth.

Anyway, as far as overseas accounts, I would imagine it would be the same, they do not report any of the trades, they leave it up to you to file your form 6781 and any information that might need to go on there, I don't even think you have to list each individual trade like you do for stock trades (schedule D), just the total sum.
icon url

strongtower

03/01/10 7:11 AM

#55230 RE: alien-IQ #55175

No the tax is the same. I have a forex.com/UK account and I had the same concerns but when I got my tax form all it said was how much profit I made on a 1099 form. So it was filed as capital gains just like how we file for stocks. no problems