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.
Tags: Capital Loss, Forex Trading, Lost, Return Loss, Tax Return
United States | admin, 1 Feb 09
By BILL, February 2, 2009 @ 4:59 pm
Yes you can. It may not be legal but you can do it. Good Luck
By ash.shop, February 3, 2009 @ 9:09 pm
yes you can , same as if you made profits.
By v b, February 5, 2009 @ 6:13 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.
By GW, February 6, 2009 @ 2:47 pm
You can put on your tax return, but only to offset the capital gains on another forex/securities related trade.