Hi Jason,
Spoke with my tax accountant today and he was unfamiliar with treatment of Forex. Couple questions for you. First, what reporting does FXCM provide at the end of the year?
Also, what is the “taxable event,” closure of a position or other?
Michael
Hi Michael,
FXCM does not provide tax report for clients due to the global nature of our client base and how tax requirements vary from one country to the next. However, you may use the “Reports” feature on the FXCM trading platform to get a full report of the year’s profit/loss on your account or run an “Account Statement” (Account Report) on MyFxcm.
Some basic tax information can be found at the links below:
[ul]
[li]Tax Webinar & PDF
[/li][li]Forex Tax Forum
[/li][/ul]
FXCM does not specialize in tax planning. Given that we are not as knowledgeable as specialized tax advisors and since there are too many subjective variables to consider, we suggest that you contact a certified accountant for further information in your tax planning.
Noted. Thankks, Jason