It took me a while to finally be making profits trading forex. My account is overseas and the contract states that the broker I’m trading with, I’m responsible for all tax events since they don’t send anything to the IRS. My question is, how to I file my winnings? Is it the withdrawal I should only report? Or when I make realized gains on my brokerage account? What for gives me the least amount to pay taxes legally (if any). I also make 75k per year on w2 job
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Posted by Thedrafter12
1 Comment
You should report your realized forex gains for the year they’re earned in. When you withdraw them from the brokerage isn’t relevant.