How does Optimus Futures report taxes on foreign customers? If I have profits in my emini sp trading, how do you guys take it out? Each day? A month? Year? I never traded in the USA because I am based in Europe.
Our clearing firms provide at the end of the year a form called 1099-B which summarizes your entire P&L for a given year. However, you also get a daily and monthly statement which allow you to track your performance. When you fill out the Futures trading account application form, you will also sign the W8 form (Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding and Reporting Individuals) which exempts you from paying taxes in the USA if you a foreign futures trader.