Forex Tax Treatment 2016

16 Mar

Many taxpayers, preparers and IRS agents mishandle forex tax treatment and elections.

Mar 16, 2016 at 4:00 pm EST

If you want a recording, we suggest the latest version: How To Report Forex Trades On 2016 Tax Returns & 2017 Planning

Join CPA and forex tax expert Robert A. Green CPA. In this GreenTraderTax Webinar, Mr. Green will explain how to handle forex trades on income tax returns including:

  • Forex spot, forward and OTC options;
  • Forex Section 988 ordinary gain or loss treatment;
  • Section 988 opt-out (capital gains) election;
  • Qualifying for lower Section 1256(g) 60/40 capital gains rates;
  • Tax return examples for Section 988 vs. Section 1256(g) forex tax treatment with trading gains vs. trading losses. Green shows you how he prepares tax returns for forex traders.
  • Reporting unrealized gains and losses with Section 1256(g);
  • Rollover trades, interest and open P&L;
  • Broker tax reporting, tax forms and summary reporting;
  • IRS and state tax notices questioning forex tax treatment; and
  • CFTC rules for retail off-exchange forex traders.

 

 

Testimonials

Hi Mandy (Amanda Smitson CPA), Thanks for the clarification. Yes, please go ahead with the final tax returns. Its been great working with you as well and you are awesome! Thanks,

PK

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