or do you not report it if it is under a certain amount?
What country are you trading in? You’ll get lots of different answers, but I would say talk to a tax pro.
If your in the UK and are trading by using spread betting you do not need to pay any taxes as any profits are regarded as winnings from placing bets. Otherwise you would indeed need to pay taxes.
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This correct, and you don’t even need to submit trading details on a tax form.