Is trading on ForEx commodities or securities? Tax question?
January 8th, 2009
John S asked:
I am going to be paying income tax for the first time on some small earnings I made trading EUR/USD on the Foreign Exchange. I need to know if this type of trading is considered commodities, subject to the 60/40 (23%) rate, or if this is considered futures, and therefore 35% rate.
SEVERY
I am going to be paying income tax for the first time on some small earnings I made trading EUR/USD on the Foreign Exchange. I need to know if this type of trading is considered commodities, subject to the 60/40 (23%) rate, or if this is considered futures, and therefore 35% rate.
SEVERY