How To Report Forex Trades On 2016 Tax Returns & 2017 Planning

16 Mar

Mar 16, 2017 at 1:00 pm EST

Forex traders may have the best of both worlds: Ordinary loss treatment skirting the capital loss limitation, or lower 60/40 capital gains tax rates in Section 1256(g). Unfortunately, you have to choose in advance with an election.

Join forex tax expert Robert A. Green CPA as he explains:

- Off-exchange forex vs. on-exchange regulated futures contracts;
- Forex Section 988 ordinary gain or loss treatment;
- How to report Section 988 forex trades on 2016 tax returns;
- How to make a capital gains election to opt-out of Section 988;
- A case for using Section 1256(g) lower 60/40 capital gains tax rates on the main currencies and why it’s uncertain with the IRS;
- How to report forex using 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;
- CFTC and NFA rules for forex.



Dear Bob, Thanks for the good news about my Tax refunds. First I will say that I am completely satisfied with Deborah's (King) work and your help, culminating in the production of my 2013 personal tax return. Deborah is a caring person doing her work thoroughly with high professional standards, and always answering my questions promptly and efficiently. From our very first encounter at your seminar in February, I appreciated your expertise as well as your understanding of my need to keep my costs down. As an accountant myself, I have strived to do as much of the information gathering legwork as possible, and also entering and reconciling the Tradelog information promptly and accurately....Thanks and best regards,