How the currecy traders taxed on their profits. Do their brokers issue some kind of statement to irs. Help is appreciated.
This is very good and detailed explanation. I appreciate it. In my understanding forex treated like 1256 contracts and should be reported as commidities. I trade commodities and do not claim trader status to take advantage of 60/40 treatment. I guess it would be ok for me to keep things as it is, but how can I keep forex trading records. Will GTT tradelog help? if not any future enhancement?.