Turbotax forex 988

I trade spot forex through forex. I have some losses and I would like to to know how do I file these losses on turbo tax.

I printed out my trading transaction history for duringand on the transaction, it reported a loss for the year. I spoke to a cpa through turbo tax and he said that they wouldn't question if I filed my gains or losses through Box B short termunder Scheduled D.

Am I still entitled to utilize capital loss carry over? By default, retail FOREX traders fall under Sectionwhich covers short-term foreign exchange contracts like spot FOREX trades. Section taxes FOREX gains and losses like ordinary income, which is at a higher rate than the capital gains tax for most earners. Section gains or losses are reported on Form This default treatment of foreign currency gains is to treat it as ordinary income. You don't show where to enter the loss, only that it is a loss.

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Here is my questions. I just like to officially know how to file it properly on turbo tax. Any help is much appreciated.

Asked by akc TurboTax The theory of stock market efficiency ray ball Options Edit Ask for details Archive. Recommended Answer 35 people found this helpful Spot FOREX Trade Taxes By default, retail FOREX traders fall under Sectionwhich covers short-term foreign exchange contracts like spot FOREX trades.

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How do I report section (forex trading) losses - TurboTax Support

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Foreign Exchange (Forex) Trading gains and losses - TurboTax Support

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