May 25, 2010
Can I put Capital Loss in Forex trading on Tax Return?
nycxwes asked:
So this year I tried www.fxcm.com Forex trading and lost $1300. I was wondering if I can somehow put this on my tax return as capital loss and where I would put such an item.
So this year I tried www.fxcm.com Forex trading and lost $1300. I was wondering if I can somehow put this on my tax return as capital loss and where I would put such an item.
Leave a Comment
Comments on Can I put Capital Loss in Forex trading on Tax Return?
Yes you can. It may not be legal but you can do it. Good Luck
yes you can , same as if you made profits.
The obvious place to put it is on schedule D as short term losses. These follow irc 988 unless you previously elected to follow 1256.
You can put on your tax return, but only to offset the capital gains on another forex/securities related trade.