September 9, 2010

Can I put Capital Loss in Forex trading on Tax Return?

By Planet Wealth

So this year I tried www.fxcm.com Forex trading and lost 00. I was wondering if I can somehow place this on my tax return as capital loss and where I would place such an item.

Topics: trading tips | 5 Comments »

5 Responses to “Can I put Capital Loss in Forex trading on Tax Return?”

  1. ash.shop Says:
    September 9th, 2010 at 10:25 pm

    yes you can , same as if you made profits.

  2. v b Says:
    September 9th, 2010 at 10:25 pm

    The obvious place to place it is on schedule D as small term losses. These follow irc 988 unless you previously elected to follow 1256.

  3. GW Says:
    September 9th, 2010 at 10:25 pm

    You can place on your tax return, but only to offset the capital gains on another forex/securities related trade.

  4. Andrew Boren Says:
    September 9th, 2010 at 10:25 pm

    no

  5. BILL Says:
    September 9th, 2010 at 10:25 pm

    Yes you can. It may not be legal but you can do it. Excellent Luck

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