Can I put Capital Loss in Forex trading on Tax Return?
nycxwes asked:
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.
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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Tags: Capital Loss, Forex Trading, Lost
April 4th, 2009 at 9:29 pm
Yes you can. It may not be legal but you can do it. Good Luck
April 5th, 2009 at 5:39 pm
yes you can , same as if you made profits.
April 7th, 2009 at 8:44 pm
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.
April 8th, 2009 at 5:32 pm
You can put on your tax return, but only to offset the capital gains on another forex/securities related trade.