Retail Forex traders fall under Section , which covers short-term foreign exchange contracts like spot Forex trades. Section taxes Forex gains and losses like ordinary income. You do not report your Forex loss on form which is for Capital gains and losses. Forex gains and losses are reported on your tax return as Other Income.
A loss is reported as a negative number. 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 your question to the community. Most questions get a response in about a day. Back to search results. I am currently unemployed, I lost around 10, in forex trading last year. How do I properly fill out form ? Recommended Answer 3 people found this helpful Retail Forex traders fall under Section , which covers short-term foreign exchange contracts like spot Forex trades.
To report your Forex loss, please follow these steps: Describe your loss as Section Forex loss and enter a negative number for your loss. Was this answer helpful? No answers have been posted. This post has been closed and is not open for comments or answers. Here are five guidelines: When answering questions, write like you speak.
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