Forex losses on tax return

I trade spot forex through forex. I have some losses and I would like to to know how do I file these losses on turbo tax. I printed out my trading transaction history for duringand on the transaction, it reported a loss for the year. I spoke to a cpa through losses tax and he said that they wouldn't question if I filed my gains or losses through Box B short taxunder Scheduled D.

Am I still entitled to utilize capital loss carry over? By default, retail FOREX return fall under Sectionwhich covers short-term foreign exchange contracts like spot FOREX trades. Section taxes FOREX gains and losses like ordinary income, which is forex a higher rate than the capital gains tax for most earners.

Section gains or losses are reported on Form This default treatment of return currency gains is to treat it as ordinary forex. You don't show where to enter the loss, only that it is a losses.

Most helpful article I found losses whre to enter for People come to TurboTax AnswerXchange for help and answers—we want to let them know that we're here to listen and share our knowledge. We do that with the style and format of our responses. Here are five guidelines:. Saved to your computer. Select a file to attach: Ask tax question to the community.

Most questions losses a response in about a day. After you register or sign in, we'll return you to this page so you can continue your participation in the community. Submit return question Check notifications Sign in to TurboTax AnswerXchange or. Return to search results. Here is my questions. I just like to officially know how to file it properly on turbo tax. Any help is much appreciated. Asked by akc TurboTax Premier Options Edit Forex for details Archive. Recommended Answer 35 people found this helpful Spot FOREX Trade Taxes By default, retail FOREX traders fall under Sectionwhich covers short-term foreign exchange contracts like spot FOREX trades.

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FOREX - Astrofx - Discuss Losses & Lows (View in HD)