Comments on: How do you declare your forex profits/losses on your tax returns? http://forexquestions.org/forex/how-do-you-declare-your-forex-profitslosses-on-your-tax-returns Answers to all your Forex questions. Thu, 29 Jul 2010 21:10:34 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Anil Kumar Raju http://forexquestions.org/forex/how-do-you-declare-your-forex-profitslosses-on-your-tax-returns/comment-page-1#comment-1221 Anil Kumar Raju Wed, 01 Jul 2009 12:42:14 +0000 http://forexquestions.org/forex/how-do-you-declare-your-forex-profitslosses-on-your-tax-returns#comment-1221 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. 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.

]]> By: xtraheavy01 http://forexquestions.org/forex/how-do-you-declare-your-forex-profitslosses-on-your-tax-returns/comment-page-1#comment-1220 xtraheavy01 Tue, 30 Jun 2009 11:04:40 +0000 http://forexquestions.org/forex/how-do-you-declare-your-forex-profitslosses-on-your-tax-returns#comment-1220 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 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

]]> By: v b http://forexquestions.org/forex/how-do-you-declare-your-forex-profitslosses-on-your-tax-returns/comment-page-1#comment-1219 v b Sun, 28 Jun 2009 11:11:39 +0000 http://forexquestions.org/forex/how-do-you-declare-your-forex-profitslosses-on-your-tax-returns#comment-1219 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. 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.

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