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The Tax Thread
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Created: by Big Mike Attachments:3

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The Tax Thread

  #231 (permalink)
Lexington KY/USA
 
Trading Experience: Beginner
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LDog's Avatar
 
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cshrum View Post
So does anyone trade a ROTH Ira and withdraw their profits and not pay any taxes on it?

Only if you're over 59 1/2, had a ROTH at least 5 years and profitable.
(not me yet, on either, but hope to be both within 5 years )

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  #232 (permalink)
Site Administrator
Manta, Ecuador
 
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Big Mike's Avatar
 
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Hi guys,

It is my pleasure to welcome back Ryan Curran CPA @ Curran Unger LLP for our 333rd webinar event on Tuesday, January 15th @ 4:30 PM Eastern US.

The title for the event is "Tax Topics for Traders in 2019", and bullet points include:

- Tax plan updates for 2018 Tax Year
- Qualified business income deduction
- Qualified opportunity zone tax deferrals
- Trader tax status - qualifications and implications
- Q&A session with Ryan Curran CPA, attend live to get your questions answered

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


Register for event:
https://on.futures.io/jk1ps

Mike

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  #233 (permalink)
Site Administrator
Manta, Ecuador
 
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Webinar recording:



Please share your feedback on this webinar using the links below.

Liked it:
https://futures.io/email-feedback.php?title=26&liked=1

Didn't like it:
https://futures.io/email-feedback.php?title=26&liked=-1

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

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The following user says Thank You to Big Mike for this post:
 
  #234 (permalink)
Roseville
 
Trading Experience: Intermediate
Platform: Investor RT
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Posts: 2 since Oct 2017
Thanks: 0 given, 0 received

Hi, will Ryan answer a question?

I'm trying to figure out how I can get a bank to give me a loan against my trading profits? I own a few properties and would like to do a cash-out re-fi on them.

Right now I live in CA but I own two homes in FL that are rented out. I don't have any entities setup yet.

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  #235 (permalink)
nashville, tn
 
Trading Experience: Intermediate
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Posts: 82 since Nov 2012
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How will trading for earn 2 trade be treated? Still get the preferred tax treatment of trading futures vs regular income?

Thanks

Sent using the futures.io mobile app

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  #236 (permalink)
new york, ny/usa
 
Trading Experience: Beginner
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Posts: 128 since May 2012
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I have to report a lost for the year and I would like to know if I can deduct transaction costs for futures contracts. I do not see it on my 1099 from the tdameritrade so I am guessing I canít. Thank


Sent from my iPhone using Tapatalk

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  #237 (permalink)
Legendary Market Wizard
Houston, TX
 
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jngrim View Post
I have to report a lost for the year and I would like to know if I can deduct transaction costs for futures contracts. I do not see it on my 1099 from the tdameritrade so I am guessing I canít. Thank

I believe 1099s are net of brokerage costs.

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  #238 (permalink)
Chicago, IL
 
Trading Experience: Advanced
 
Posts: 1 since Apr 2019
Thanks: 1 given, 0 received

question about just Form 1256 - if you lost money last year, but made money this year trading only futures both years, do you get to subtract those losses from this year's gains? and you can do that for the preceding 3 years, right?

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  #239 (permalink)
the coin hunter
virginia
 
Trading Experience: Intermediate
Platform: ninja
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traderthrowaway View Post
question about just Form 1256 - if you lost money last year, but made money this year trading only futures both years, do you get to subtract those losses from this year's gains? and you can do that for the preceding 3 years, right?

since you are allowed to carry loss forward you def can subtract your loss (Y17) against your gain (Y18). Even if you don't file on your loss you can always carry it forward forever.

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  #240 (permalink)
San Jose, Costa Rica
 
Trading Experience: Intermediate
Favorite Futures: Emini ES, Emini EMD
 
Posts: 3 since May 2019
Thanks: 1 given, 1 received


Being from Europe opening a margin account in the US for Futures trading I wonder whether providing the broker with a tax form like W8-BEN or similar would help me to avoid any deduction at source tax and any other tax within the US.

I heared about this 60/40 tax rule which seems to be relevant for Futures traders and I am not sure whether any W8-... form helps with regards to taxes in the US when it comes to gains from Futures trades. Or is there perhaps another attempt one should consider when having a US Futures broker without being a US citizen and without living in the US?

Does anybody have any experience with that?

Thanks a lot,
L.J.

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