forex money so, my buddy here trades forex, and he does not understand how the whole tax thing works.lets say the whole year he trades forex and does not withdraw the money but just keeps it in his forex account at a broker thats in usa. is any of it taxable if it hasnt been moved to the bank?
and also, lets say he gets audited or something, can the irs seize that money thats in the trading account?
and would they even know that he has money there?
and would they know how much money he has?
I'm asking cause he told me that his broker does not disclose any info to the irs. |