Ok, maybe this is an easy question that everyone know the answer to. But I just don't see a easy solution. Tax wise, what are the consequences and paper hassles you have to deal with when trading when you choose to have your Forex Account based with something else besides the U.S. Dollar? How do you report your capital gains/losses and interest? It seems to me, that everytime you have a gain, you have to compute the gain in U.S. Dollars, and track it..... Please tell me that I am wrong.