Question by Alex L: If I make income trading currency on the foreign exchange, must I report this on my federal taxes?
I want to start trading currency on the foreign exchange but am not sure if I would need to report my returns as income on my federal income tax return. If I do need to report it, how so?
Best answer:
Answer by hrblockchristinew
Yes you are supoposed to claim any income tha tyou receive on your taxes.
This advice was prepared based on our understanding of the tax law in effect at the time it was written as sit applies to the facts that you have provided. http://www.hrblock.com/taxes/tax_tips/index.html
http://www.hrblock.com/taxes/tax_calculators/index.html
Christine
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Technorati Tags: Currency, exchange, federal, foreign, income, must, report, taxes, this, Trading
Question by Lys: Is Foreign Currency Trading worth it, and does it work?
My father is willing to pay me to use a Foreign Currency Trading software basically all day every day. But, we’ve researched that it is a large investment to get the software to be able to do it. They’re advertising that if you do it all day, everyday you can make “a lot” of money per year off of this. I am concerned before we pay for the software if the program really does work and if you are able to make money off of it?
Best answer:
Answer by MoneyMonkey
No. No. No. No. No. You can LOSE a lot of money. And you will be out the software cost. Only professionals should do anything along these lines. This is a really bad idea. Unless your father is paying for everything, and he has plenty of money he can afford to lose you should not even consider this venture.
What do you think? Answer below!
Technorati Tags: Currency, foreign, Trading, work, worth
Question by Vhdl B: Will stock and foreign currency trading show up on my credit report? What web sites do you use to do this?
I’d like to get into stock and foreign currency trading if it will not show up on my credit report. What companies do you use for these activities?
Best answer:
Answer by bdancer222
Has nothing to do with credit history.
Know better? Leave your own answer in the comments!
Technorati Tags: credit, Currency, foreign, report, show, sites, Stock, this, Trading
