Online Forex Traders
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Online Forex Traders

Forex, the speculative market acts the same as the futures market. Yes, it is true that you can actually aquire physical currency, but that’s not what you’re doing w


Do you have to pay taxes on currency exchange?

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Do you have to pay taxes on currency exchange? Empty Do you have to pay taxes on currency exchange?

Post by Admins Thu Nov 12, 2015 10:58 am

You only have to pay taxes on currency exchange if you turn a profit of more than $200 on the transaction. You must pay capital gains tax on the profit, which, depending on the context, is between 5 percent and 15 percent.
Source:
IRS: Taxable and Nontaxable Income

Forex and Tax Treatment

Paying Taxes for Forex Trading

Admins

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Join date : 2015-11-12

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