E-mini tax on joint account

Discussion in 'Educational Resources' started by kserra, Oct 15, 2003.

  1. kserra


    What rate would you be taxed at if you open a joint account and if there is severe difference in the net income of the two traders, i.e one trader makes a large sum and the other makes very little ?

    Are there any limited capabilities on a joint account ?
  2. Pabst


    The account itself isn't taxed. Those named on the account declare the profits on their individual returns. Hence one partner may have his own capital losses and incur no tax liability on the profits, while the other partner owes taxes on his portion of profits.