I'm just starting my education process into Forex and I was wondering how Forex trades are dealt with under US tax laws. Mainly, let's say I want to focus first on EUR/USD pairs (using an Mini-Forex account to get my feet wet and make sure my money management skills are in place before raising the stakes). Now if I make say, 8-10 flips a day, and assuming since I'm new my poor success ratio will be 2 positives against 8 lossing positions, how are these managed for tax reporting. With stocks, there is the 30 day wash rule, where I can't claim the loss if I re-enter the same instrument less than 30 days after I closed out the losing position. Is there anything like this in existence for Forex trades?, or do I just sum up the winners and losers and report a short term capital gain/loss on the grand total of all my trades for each currency pair traded? Thanks!