Question

Trading A Foreign Company's Capital

Forum|Forum|5 years ago
July 20, 2020
1 reply
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I'm a US citizen and also a prop trader for a foreign prop firm. End of month they wire transfer my profits I made. How would I report taxes at the end of the year since the company doesn't send out any forms. Am I considered a independent contractor/Self employed.

A

Anonymous

Am I considered a independent contractor/Self employed. Assuming your work is performed in the US, you have answered your question. How you report depends on how you are compensated. seek out professional help for the tax issues that will arise including the need to pay quarterly estimated taxes.