US forex tax question

[goodboy]

Do you have to report all your winnings or just the money you take out of your forex account?

thanks

 

[Rhody Trader]

You have to report profits/losses regardless of whether you withdraw or not - unless you do your trading through an IRA.

 

[stochastic]

If you are a U.S. citizen or resident alien, you must report income from all sources within and outside of the U.S. This is true whether or not you receive a Form W-2 Wage and Tax Statement, a Form 1099 (Information Return) or the foreign equivalents. See Publication 525, Taxable and Nontaxable Income for more information.