What Are The Tax Implications Of Profits Obtained And Losses Incurred On The Forex Market?
November 13th, 2009 | by Frenday |your losses can be used to offset your gains. If your gains are the result of a holding period of greater than one year, they are subject to a more favorable tax rate, about 1/2 the normal. You may deduct $3000 of your losses against ordinary income if you are married filing jointly and you can carry them over for two additional years.
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2 Responses to “What Are The Tax Implications Of Profits Obtained And Losses Incurred On The Forex Market?”
By muncie birder on Nov 13, 2009 | Reply
I would imagine that they are the same, for any capital gains or losses.
By FitLine - more power on Nov 13, 2009 | Reply
I wish I could answer properly, but your question has me stumped for an answer. An interesting one.