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http://thismatter.com/money/tax/foreign-currency-transactions-taxation.htm http://www.maximadvisors.com/2013/12/us-taxation-of-foreign-currency-gains-or-losses/ http://www.investmentnews.com/article/20090908/REG/909089992/reporting-a-clients-foreign-currency-tax-transactions-tax-news

Maybe it is different with currency futures, but what I am talking about is buying foreign stocks with foreign currencies. Foreign currencies are considered to be property and when you convert them back to your base currency, it is a taxable event.

I don't think the fact that they haven't questioned you on your taxes is a reason to think you are correct. All I know is that everytime you convert from a foreign currency back to your own currency, it is a taxable transaction. I have reported previous transactions on Form 1040, Line 21, as...

Not many replies because currencies and taxes is a complicated topic. I believe currencies are treated as property, and whenever you convert another currency into your base currency, it becomes a taxable event. So suppose CAD and USD are at parity, and you buy 1,000 CAD with 1,000 USD. Then...

Yes, so far I have been lucky that I have not been majorly screwed. But there was one time where I just wanted to get the hell out of a position on a bid in the aftermarket (there was earnings news on the company), and my price was being capped. So IB was essentially saying that it was safer for...

Similarly, IB will cap limit order prices for stocks based on the last print. This may not be a problem during regular market hours but during pre and post-market, there can be erroneous prints on stocks that cause you not to be able to submit an order at a reasonable price - it gets capped. And...

You are delusional and an irritant. But I still agree with the core of what you are saying.

I love how you totally misinterpret my posts and then spout the same view as me (but in a more distasteful way) and make it sound like you are disagreeing with me. You've got skillz.

I trust their decisions in regards to keeping my account safe. They have always been proactive when it comes to making sure their clients can't put them on the hook. There must be a valid explanation for why they have decided to add this exposure fee. You may be an innocent bystander for who...

Being overdramatic is not going to convince people of your position. I've traded with IB for many years and I have come to trust their decisions.

Reread my question and don't jump to conclusions. I am asking if anyone has actually been charged any money for this exposure fee yet or if all the moaning about it has been because they have been just warned (and not charged). If no one has been charged yet for "overexposure", then effectively...

I just wanted to clarify - does this mean that this exposure fee has not yet been charged to any IB account as of this date? And it will start actually going into effect on August 14th? So previous notifications of the charge were just warnings for the future?

Nice find!

The problem is that no one will know what he is talking about. And I bet he'll hear different information each time he calls in. This is an esoteric question that probably only a few people have to deal with in their lifetimes. To expect the NM Revenue Dept to know what is going on is to expect...

http://www.forbes.com/sites/greatspeculations/2013/08/20/ways-professional-traders-can-save-big-at-tax-time/

Form 4797 is used for mark-to-market accounting.

http://www.greencompany.com/EducationCenter/GTTRecSelfEmployTax.shtml

Trading income is not considered earned income. Does the gross receipts category still apply if the income derived is not earned income? That is the first avenue I would explore. Of course, it is possible I am not understanding the original question, but any tax that is based on the cumulative...

I think you would have to write your own order algorithm type with the API.

The US, for all its riches, has some of the worst internet infrastructure in the developed world: http://www.engadget.com/2011/06/28/why-is-european-broadband-faster-and-cheaper-blame-the-governme/ If you are a US citizen, you are getting robbed by monopolies. I can't wait for the day when...