Tax on Forex questions

bmw335isedan

Newbie
2 0
Hello

I will be trading Forex

First question:

I am a US citizen living in South Korea. If I open an account with Tradestation with South Korean address will I qualify for tax exemption up to $95000 for income earned overseas?

Second question:

I heard that I can defer tax indefinately if I create a corporation in Singapore and trade forex under corporation name. As long as I do not bring fund back in to USA. Is this true?

Third question:

If i reinvest all of forex earning without windrawing from Tradestation, do I still have to pay tax on gains?

Thanks!
 

pboyles

Legendary member
8,072 1,302
Hello

I will be trading Forex

First question:

I am a US citizen living in South Korea. If I open an account with Tradestation with South Korean address will I qualify for tax exemption up to $95000 for income earned overseas?

Second question:

I heard that I can defer tax indefinately if I create a corporation in Singapore and trade forex under corporation name. As long as I do not bring fund back in to USA. Is this true?

Third question:

If i reinvest all of forex earning without windrawing from Tradestation, do I still have to pay tax on gains?

Thanks!

Good news, you don't pay tax on money you lose. You'll not owe them a penny.
 

pboyles

Legendary member
8,072 1,302
Are you being sarcastic? Who the hell pays tax on loss?

I'm trying to explain to you that tax is the absolute last thing you need to concern yourself with. It's extremely unlikely that you will ever make a penny trading forex. The most likely outcome is that you will lose your money. It's nothing personal it just that's what happens to pretty much everyone that tries.
 
 
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