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Yes, thanks for the information, it was definitely helpful.

Excellent points. Thanks

If zdreg had simply suggested seeking a professional then that would be valid, but he was dismissive and condescending as you can tell from his comments. I don't believe I ever said I wasn't going to seek a professional. I simply wanted to know the basic implications of year to year profit and...

Be serious, this section is called Taxes and Accounting, so you must be trolling. Sounds like I don't need to worry about taxes in this scenario, so I will save my time and money.

No, I have never filed anything concerning that account in the past. I was thinking I don't need to until I actually have more in the account then I have put into it.

I have a FX account and I have put about $20,000 cash into the account. I have had about 4 losing years and last year my account started at about $5,000, a $15,000 loss in the account since I started. This year, my account has risen to $7,000, a $2,000 profit for the year, but still a loss in...