Forex and Filing Your Taxes

FOREX (Foreign Exchange Market) trades are not reported to the IRS the same as stocks and options, or futures.  FOREX trades are considered by the IRS as simple interest and the gain or loss is reported as “other income” on Form 1040 (line 21). No special schedules or matched trade lists are necessary.

For a detailed discussion on filing your taxes for your FOREX trades see the GreenTraderTax Currency Education topic.
 
   Forexturtleon

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Posted on March 30, 2009 10:18 by Tom Herod
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Categories: Forex Trading
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