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

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

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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!