250: Introduction To Forex Trading Taxes (Basics) – Courtney Kurisko

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250: Introduction To Forex Trading Taxes (Basics) – Courtney Kurisko

Introduction To Forex Trading Taxes (Basics)

In episode 250 of the Desire To Trade Podcast, I sit down with Courtney Kurisko to discuss Forex trading taxes and trader tax status in general.

Courtney is a Certified Public Accountant in the United States and specializes in day trader taxes. She also works with other types of traders as well as investors.

While this isn't a favorite topic of mine, I hope this gives you some insights on how to look at doing your own trader taxes.

Let's get started!!!

>> Watch the video recording!

In This Episode, You'll Learn…

Who is Courtney Kurisko and what she does 1:21
What taxes for traders vs individual whats the difference 2:13
How to determine if you qualify as a day trader for tax purposes 2:58
What are the main differences between a day trader and investor 5:47
What are the most common mistakes traders make in regard to taxes 8:20
A short overview of how taxes for traders work 9:40
General documentation that traders need to give their tax advisors 11:50
The differences between a swing trader and investor 12:43
Main differences in tax rate and deductions between classifications 13:27
Interesting considerations that a trader needs to take into account in their taxes 14:25
What are the potential consequences of doing your taxes as a trader without adequate advice 16:14
How to separate your trading if you do both, day trading and investing 18:48
What to do if you are just starting in trading 19:32
What type of expenses may and may not classify for deductions as a day trader 20:29
And much more!