Do you have to pay taxes on currency exchange?

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Do you have to pay taxes on currency exchange?

Post by Admins on Thu Nov 12, 2015 10:58 am

You only have to pay taxes on currency exchange if you turn a profit of more than $200 on the transaction. You must pay capital gains tax on the profit, which, depending on the context, is between 5 percent and 15 percent.
Source:
IRS: Taxable and Nontaxable Income

Forex and Tax Treatment

Paying Taxes for Forex Trading

Admins

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