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How do you pay taxes on a foreign forex account?

I have a forex account but the brokerage is in another country. Do I pay taxes or what? And if I do how do I go about doing that?

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3 Responses to “How do you pay taxes on a foreign forex account?”

  1. the tax lady said :

    US citizens and resident aliens pay tax on worldwide icnome, so of course you do.

    Unless this is classified as a 1256 contract, you report it on line 21, other income. 1256 goes to form 6781.

    And, if the account had more than $10,000 in it at *any* time during 2009, don’t forget to file form TDF 90-22.1

  2. [email protected] said :

    I asked the same question a few months back in relation to the W-9 Declaration and someone kindly pointed out that you don’t need too.

    I have been following this system to the letter now and all is good http://www.forex4pros.co.uk/forex-articles/90-top-tax-tip-forex-trading-from-the-usa-and-avoiding-a-w-9-taxation-form.html

  3. RAIMI RUSYDI said :

    I want to share NO LOSS Forex Secret :
    Go to : http://bit.ly/NO_LOSS_FOREX




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