What is the tax count for a forex market?
About a year ago, I invested couple thousands of dollars in forex market. I have more lose than draw. Overall, I've gained around $7000.00 (my loss is higher than this value). My grill is what would the

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Did you keep records that formal you expected to be taxed under IRC 1256 (capital gains rules) rather than IRC 988 (plain interest income)?

If yes, then when you receive your 1099 at the end of the year you will get a 60/40 split of venture

I'm in view of getting into the Forex market soon and am starting to do some homework. If someone could just lay out how things employment and how you actually make (or lose) money, that would be nice. Also, what exactly is a pip and a lot? Thanks in

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Forex (or distant exchange) market is a market where different national currencies are bought and sold. In non-functional to make money in the forex market, you need a good trading strategy extensively backtested on at least 15 years of observations.

I burning in UK!
First Question: Do I need to pay tax on the money which I have made in forex Market (Foreign Exchange)? Somebody told me TAX already is included in the mate spread and you don’t need to pay any extra tax! Something like spread

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Yes You have to pay tax on forex revenues. In USA we declare on our tax return income you received from forex trading. You should consult your tax counselor regarding this. Hey when you are making money in forex paybe a problem.

I trade