Can I Put Capital Loss In Forex Trading On Tax Return?
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.
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December 10th
You can put on your tax return, but only to offset the capital gains on another forex/securities related trade.
December 10th
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.
December 10th
yes you can , same as if you made profits.
December 10th
no
December 10th
Yes you can. It may not be legal but you can do it. Good Luck
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