Futures Trading Blog

Kelvin Y asked:


If a Hong Kong resident setups a BVI to trade commodity futures in NYMEX, what tax does he pay? profit tax?

GEBHART

GB asked:


I trade up to 20 times times a month on future currencies. I received a 1099-B from the brokerage with total gains/losses no other details. Do I need to list out each trade on my taxes? This could be a nightmare or do i just report the total loss or gain on the 1099-B

BOEVE