I'm wondering about any info regarding taxes and trading the European futures. Being a U.S. citizen, how does the U.S. tax my trading of them. And, do I have to pay any form of European tax? Etc... TIA
Yes, I'm wondering, too. So far I can't find anything on the IRS, SEC, CFTC, NFA or Eurex web sites that specifically addresses this, and my broker understandably isn't interested to take a position either. My failure to find anything doesn't mean such information is not there, but I am puzzled. In the absence of any clear guidance, I would think the prudent approach would be to treat them as other Section 1256 futures contracts. But if someone has specific understanding to the contrary, I'm all ears.
My question is a bit off topic. I am trading U.S. eminis, and i was wondering what the European ones are like? How liquid are they? How many contracts can i do each way? How big are the moves on them? Thanks.
Donaldduck, I've just started a separate thread that may solicit responses to your question. Please see: http://www.elitetrader.com/vb/showthread.php?s=&postid=304678#post304678
Normally capital gains are taxed only if you are resident of the country you are trading from. Like if you (US national) are trading in Italy with an Italian broker. Otherwise, I'd say European tax would be no issue. alberto