What are the tax implications of profits obtained and losses incurred on the Forex market?

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What are the tax implications of profits obtained and losses incurred on the Forex market?

2007-01-16 04:02:16 · 3 answers · asked by theprince_10 1 in Business & Finance ➔ Investing

- as an individual investor

2007-01-16 04:09:37 · update #1

3 answers

your losses can be used to offset your gains. If your gains are the result of a holding period of greater than one year, they are subject to a more favorable tax rate, about 1/2 the normal. You may deduct $3000 of your losses against ordinary income if you are married filing jointly and you can carry them over for two additional years.

2007-01-16 05:30:37 · answer #1 · answered by Anonymous · 0⤊ 0⤋

I would imagine that they are the same, for any capital gains or losses.

2007-01-16 04:15:57 · answer #2 · answered by ricks 5 · 0⤊ 0⤋

I wish I could answer properly, but your question has me stumped for an answer. An interesting one.

2007-01-16 04:07:18 · answer #3 · answered by Anonymous · 0⤊ 0⤋