Comments on: If I make income trading currency on the foreign exchange, must I report this on my federal taxes? http://www.sealamerica.org/currency-trading/if-i-make-income-trading-currency-on-the-foreign-exchange-must-i-report-this-on-my-federal-taxes Wed, 10 Aug 2011 13:26:59 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: travelguruette http://www.sealamerica.org/currency-trading/if-i-make-income-trading-currency-on-the-foreign-exchange-must-i-report-this-on-my-federal-taxes/comment-page-1#comment-2877 travelguruette Thu, 11 Mar 2010 01:15:59 +0000 http://www.sealamerica.org/currency-trading/if-i-make-income-trading-currency-on-the-foreign-exchange-must-i-report-this-on-my-federal-taxes#comment-2877 You must report the information.<br><b>References : </b><br> You must report the information.
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]]> By: DEBORAH F http://www.sealamerica.org/currency-trading/if-i-make-income-trading-currency-on-the-foreign-exchange-must-i-report-this-on-my-federal-taxes/comment-page-1#comment-2876 DEBORAH F Thu, 11 Mar 2010 01:09:59 +0000 http://www.sealamerica.org/currency-trading/if-i-make-income-trading-currency-on-the-foreign-exchange-must-i-report-this-on-my-federal-taxes#comment-2876 Unless you live outside the country, you must report your world-wide income on your federal tax return. If you're an investor--and not a professional trader--foreign currency is a capital asset. Gains and losses from trading capital assets go on Schedule D.<br><b>References : </b><br>IRS Pub 17 page 98 Unless you live outside the country, you must report your world-wide income on your federal tax return.

If you’re an investor–and not a professional trader–foreign currency is a capital asset. Gains and losses from trading capital assets go on Schedule D.
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IRS Pub 17 page 98

]]> By: hrblockchristinew http://www.sealamerica.org/currency-trading/if-i-make-income-trading-currency-on-the-foreign-exchange-must-i-report-this-on-my-federal-taxes/comment-page-1#comment-2875 hrblockchristinew Thu, 11 Mar 2010 00:28:59 +0000 http://www.sealamerica.org/currency-trading/if-i-make-income-trading-currency-on-the-foreign-exchange-must-i-report-this-on-my-federal-taxes#comment-2875 Yes you are supoposed to claim any income tha tyou receive on your taxes. This advice was prepared based on our understanding of the tax law in effect at the time it was written as sit applies to the facts that you have provided. http://www.hrblock.com/taxes/tax_tips/index.html http://www.hrblock.com/taxes/tax_calculators/index.html Christine<br><b>References : </b><br> Yes you are supoposed to claim any income tha tyou receive on your taxes.

This advice was prepared based on our understanding of the tax law in effect at the time it was written as sit applies to the facts that you have provided. http://www.hrblock.com/taxes/tax_tips/index.html
http://www.hrblock.com/taxes/tax_calculators/index.html

Christine
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