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Income trading FOREX

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anelmida

Junior Member
What is the name of your state? Nevada
What form is needed to report income derived from trading FOREX?What is the name of your state? Nevada. What is the name of your state? Nevada.
 


abezon

Senior Member
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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