Forex Tax Treatment 2016
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.