Tax situation in the US for spread betting

[Reformation]

Hi guys,

can anyone tell me what the tax situation is for financial spread betting in the United States is please? Is it tax free or do you have to pay tax on it?

Many thanks.

Dan

 

[Hoggums]

I don't think you are allowed to spreadbet in the US as it is classed as gambling. I'm pretty sure any SB firm will not allow you to open an account. (I may be wrong - perhaps someone can confirm).

 

[Hittfeld]

Yes, no SB accounts for any clients of ihe IRS. And if you manage somehow, don`t let em know.

Regards

Hittfeld

 

[tomorton]

Just a thought - gambling is not illegal in the US, as long as in a licensed form and/or at a licensed casino - do any of these offer financial spreadbetting on site?

 

[Rhody Trader]

Hmmm...Betting on the markets from the cozy confines of a Vegas casino. Alcohol + "trading". Hmmm.....

Sounds like a winner! :clap:

 

[Reformation]

Hmmm...Betting on the markets from the cozy confines of a Vegas casino. Alcohol + "trading". Sounds like a winner! :clap:

Maybe theres a niche? :cheesy:

Roll up roll up for the worlds greatest betting extravaganza, bet $10 a point on the Dow Jones right at the opening bell and win biiiiiiiiiiiiig. :clover:

:-0

 

[ramrob]

Maybe theres a niche? :cheesy:

Roll up roll up for the worlds greatest betting extravaganza, bet $10 a point on the Dow Jones right at the opening bell and win biiiiiiiiiiiiig. :clover:

:-0

Haha. That's not a bad idea. I lived in Nevada for a while before i was into trading and never saw anything like that, but I bet there is a market for it. If I could make a living spreadbetting in nevada tax free (at least no state taxes) I would move back, without a doubt. I loved it there.