Forex Factory (https://www.forexfactory.com/forum.php)
-   Trading Discussion (https://www.forexfactory.com/forumdisplay.php?f=11)
-   -   Canadian Taxes- How do I report my forex income? Please Help (https://www.forexfactory.com/showthread.php?t=410701)

capricorn34 Feb 15, 2013 5:36pm | Post# 1

Canadian Taxes- How do I report my forex income? Please Help
 
Hi All,

I am from Canada, I was wondering if anyone could help me when it comes to reporting forex income on my taxes? I have been trading since 2010 and have put it off because I had never made a profit, but now I realize I should have reported it to offset future gains.

Hypothetically lets say:

2010- deposit $500 Loss: $500 = CAPITAL LOSS: $500

2011- deposit $300 , Loss: $300 =CAPITAL LOSS: $300

2012- deposit $500, Profit : 1500 =CAPITAL GAIN $1000

The CRA said I could go back up to 3 years to report a capital loss/ gain

Which box would # I report the capital gain or loss on my return?

I have printed out my statements, but does the CRA need any additional information? I just don't want to get in trouble for not reporting my gains.

Does anyone have a step by step guideline? I appreciate any help. Again I apologize if this is a basic question, I am still a rookie.[/size][/size]

[/font]

Trade-Master May 14, 2019 2:41am | Post# 2

Good day;

So how are taxes for forex trading in Canada filed, if you make gains or losses etc please.?


© Forex Factory