Friday, December 30, 2011

Forex taxes

I'm doing research into how to properly file currency trades under the U.S. tax code. So far I have found that my transactions through Oanda are not contracts and therefore would not be under section 1256. However, I keep getting pointed to section 988 but am having a hard time understanding it all. If any of you have had experience in this I would greatly appreciate if you could please give me the research material that helped you best in the comments.

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