Hello, I have a couple tax related questions that I was hoping to get a bit of a better handle on. Thank you for your time.
- If I invest money into a trading account and then lose that money (trading); then re-fund the account, or fund a new account and eventually trade back all the money that was lost; will I need to pay taxes on the money that was traded back to cover the initial investment?
- Is there a time limit that the initial money invested needs to be paid back to avoid falling into taxable income?
- Are all Forex profits taxed equally (as a flat capital gains-type tax) paying a certain percentage of the net income? If I make $10,000 profit in one year, will I pay the same percentage of tax on that $10,000 as I would on $100,000, or $1,000,000 in a year? (I've heard different answers to this question.)
Again, thank you for your time and input, I appreciate it.
Best Regards,
NeoRio
Sentiment: Short on cash. Long on hope.