Robert A. Green
Registered: Nov 2007
08-17-12 04:37 PM
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