Your Questions About Forex Traders Wanted
The following Question and Answer is brought to you by our Forex Consultant with interaction
from members of the Yahoo Answers community.
Lisa asks…
Filing spot forex loss from 08 in 08 returns on Turbo Tax?
Can...
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Your Questions About Forex Traders Wanted
The following Question and Answer is brought to you by our Forex Consultant with interaction
from members of the Yahoo Answers community.
Lisa asks…
Filing spot forex loss from 08 in 08 returns on Turbo Tax?
Can any one tell me where should I enter Forex Trading loss in Turbo Tax 2008?
I’m a new forex trader with a trading loss from 2008 only, I want to report this loss on the 2008
Tax return.
Any answer to this matter will be much appreciated.
Thank you
Forex companies does not issue any tax form so you have to report the gain/loss your self, I
have about $3050 in loss, where should I enter this loss in turbo tax 08?
admin answers:
If you received a 1099-B, follow the instructions.
If you were told simply to report it, the IRS
won’t argue with schedule D, line 1.
The IRS will argue with large losses on 1040 line 21.
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