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Academy › Level 3 · Expert

Taxes and record keeping (the general picture)

Expert⏱ 7 min readUpdated 31 Oct 2026
GC
Written by
Goldman Academy
F
Reviewed by
Faisal
In this lesson you'll learn
  • Why records matter from day one
  • What to keep
  • The questions to ask a local tax adviser

Every country is different

Trading profits are taxed differently around the world: as income, as capital gains, under special rules, or sometimes not at all. This lesson can't tell you what applies to you. It can help you keep the records any adviser will ask for.

What to keep

  • Monthly or yearly statements from every broker.
  • Deposits and withdrawals, with dates.
  • Prop-firm fees and payouts.
  • Costs: subscriptions, data, software, VPS, courses.
  • Profit share paid to, or received from, providers.
  • Exchange rates used if your account currency differs from your home currency.

Questions for a local adviser

  1. Are my trading profits treated as income or capital gains?
  2. Are prop-firm payouts taxed differently from personal trading?
  3. Which costs can I deduct?
  4. Can losses be carried forward?
  5. Do I need to declare foreign broker accounts?

Make it a habit

Download statements monthly and keep them in one folder. Reconstructing a year of trading at tax time is painful and error-prone.

This lesson is general information, not tax advice.

Common mistakes
  • Waiting until year end to collect statements.
  • Forgetting prop-firm payouts and fees.
  • Assuming another country's rules apply to you.

Check yourself

1. Who should tell you how trading profits are taxed?
2. Which should you keep?
3. How often should you download statements?

Key takeaways
  • Tax rules depend on where you live: ask a local adviser.
  • Keep statements, deposits, withdrawals, fees and payouts.
  • Collect records monthly, not at year end.
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Education, not advice. Goldman Academy teaches how markets and tools work. Nothing here is a recommendation to buy or sell, and no lesson promises profits. Trading leveraged products carries a high risk of losing money; only trade money you can afford to lose. · Written by Goldman Academy, reviewed by Faisal