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Old Aug 16th, 2012, 05:52 PM   #1
Robert A. Green
 
 
Join Date: Nov 2007
Location: CT
Posts: 697
See my new blog on this subject, it will clear up some ongoing confusion.

Keeping Straight With Forex Reporting Requirements - Forbes
http://www.forbes.com/sites/greatspe...-requirements/
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Old Aug 16th, 2012, 06:32 PM   #2
oldtime
 
 
Join Date: Jun 2011
Posts: 7,479
Quote:
Quote from Robert A. Green:

See my new blog on this subject, it will clear up some ongoing confusion.

Keeping Straight With Forex Reporting Requirements - Forbes
http://www.forbes.com/sites/greatspe...-requirements/
hey Mr. Green, good to see you posting here, I have followed your advice for years. It looks llike this will be the first year for me to file with my only trading profits gained through spot forex with interactive. I got away with the 60/40 split in 2011, but I also had some futures trades. Even I can't see how spot will qualify for 60/40, especially if that's all you trade. A little confused, especially about 989. Your advice is always well respected by me.

But you've planted a dirty little bug in my head. Maybe I should just not report it at all since I don't (or won't) get a 1099 (from interactive). Especially since I file as "unemployed."

I'll have to look, I think I may have got a 1099 for "brokers interest" in 2011, it was a small amount and it was a loss.
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Old Aug 17th, 2012, 11:37 AM   #3
Robert A. Green
 
 
Join Date: Nov 2007
Location: CT
Posts: 697
Quote:
Quote from oldtime:

hey Mr. Green, good to see you posting here, I have followed your advice for years. It looks llike this will be the first year for me to file with my only trading profits gained through spot forex with interactive. I got away with the 60/40 split in 2011, but I also had some futures trades. Even I can't see how spot will qualify for 60/40, especially if that's all you trade. A little confused, especially about 989. Your advice is always well respected by me.

But you've planted a dirty little bug in my head. Maybe I should just not report it at all since I don't (or won't) get a 1099 (from interactive). Especially since I file as "unemployed."

I'll have to look, I think I may have got a 1099 for "brokers interest" in 2011, it was a small amount and it was a loss.
Thanks. We make a case to treat spot like forwards in 1256g, after an opt out election, in our content. See Forex Tax. http://www.greencompany.com/quick-links/forex.shtml
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