Bob asked:


Do I get income tax from earning money from Forex (foreign exchange)?

Amira

4 Responses to “If I earned profit from foriegn exchange Forex, do I get tax?”

1. Wayne Z on August 10th, 2008 1:21 pm

   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.

2. bostonianinmo on August 11th, 2008 7:55 am

   You don’t “get” tax, you PAY tax on any profits.

3. Maddy on August 12th, 2008 1:25 am

   Ofcourse if you earn you need to pay income tax. Check out to get free trading signals. I am following their signal and it gives me good profit. Check out

4. Anil Kumar Raju on August 14th, 2008 3:31 pm

   Offcourse, you need to pay tax If you are earning Income,