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Thread: Green Trader Tax
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Old 06-02-2009, 05:01 AM
dff001 dff001 is offline
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Question For GreenTrader Tax
If I want to open an account with FXCM through their United States website (fxcm.com) by selecting "MetaTrader" as the trading platform, I am being automatically redirected to the FXCM website in the United Kingdom (fxcm.co.uk) to open the account. If I am U.S. resident and open the account through FXCM United Kingdom,

1- Will this account be considered a foreign account as described in Schedule B Part III?
2- Will I need to file Form TD F90.22-1?
3- Will the income generated from this account considered foreign income?
4- How will I need to report the income/loss originated from this account on my U.S. Tax Return? Can I do it on line 21 of Form 1040? Or should this be reported differently?
5- Will I need to report the forex income/loss originated from this account to both the United States and the United Kingdom tax authorities?

Thank You
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