| I think foreign currency trades must be marked to market on 12/31. This gives you a new basis that you use when you finally sell the forex position. Caveat: my reference materials are at the office & there are many nitpicky details that affect the answer. Definitely seek professional tax preparation this year. From someone who will give you a guarantee.
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This post does not constitute legal advice, nor does it create an attorney-client relationship. Postings are based only on the information provided and you should consult an attorney in your area before relying on information contained in this post.
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12-31-2006, 12:47 PM
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