Jason B asked:


I imagine it is different than stock gains/loses on a Schedule D.

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3 Responses to “How do you declare your forex profits/losses on your tax returns?”

  • v b:

    What forms are they sending you?

    1256 contracts go first to form 6781, then schedule D.
    Other contracts go to line 21 with an attached explanation.

  • xtraheavy01:

    Jason B

    You report your profits/losses on IRS form 6781 and transferred to Schedule D

    60% are considered long term

    40% are considered short term

  • Anil Kumar Raju:

    Foreign exchange (forex) measures bring to account foreign currency gains and losses as assessable income or allowable deductions, on a realisation basis, to the extent such gains or losses are attributable to a fluctuation in a currency exchange rate, or to an agreed exchange rate differing from an actual exchange rate. The measures apply to all taxpayers, except for, broadly, banks and similar financial institutions.

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