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If I earned profit from foriegn exchange Forex, do I get tax?

Do I get income tax from earning money from Forex (foreign exchange)?

Public Response to If I earned profit from foriegn exchange Forex, do I get tax?

  1. Yes. If you held the foreign security for 1 year or under, it is a short term capital gain. If held it for over 1 year, it is a long term gain. If I am correct, almost all forex transactions are short term. They are reported on Schedule D, Form 1040.
  2. You don't "get" tax, you PAY tax on any profits.
  3. Ofcourse if you earn you need to pay income tax. Check out www.forexfundas.com to get free trading signals. I am following their signal and it gives me good profit. Check out www.forexfundas.com