US Tax on FOREX

[kens000]

Hello to all
I am curious about how other traders go about having their taxes prepared.
What I mean is do you prepare you returns yourself or do you pay someone what can be a considerable fee to prepare your returns for you and if you knew how would you do them yourself?

[et_phonehome_2]

Originally Posted by kens000

Hello to all
I am curious about how other traders go about having their taxes prepared.
What I mean is do you prepare you returns yourself or do you pay someone what can be a considerable fee to prepare your returns for you and if you knew how would you do them yourself?

It depends upon if you are a full-time trader or just dabble in it, and how you are setup [taxwise legality]. There are pluses and minuses dependent upon which election you take with Uncle Sam. If you search the net, you will find information on this...