Forex and Tax Reporting
March 9, 2007 by Trader Rich
It's getting close to that time of the year again… reporting taxes to the IRS for all of the traders in the United States.
I wrote a couple of posts a while back about this subject which includes links to further information.
Tax Information for Forex Traders
Tax Implications of Trading Forex
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Rich, I just ordered the TradersAccounting.com “Tax Secrets for Traders – FOREX Series (NEW)” CD. I’ll let you know if there’s anything of interest besides the information about IRC 1256 and IRC 988 reporting.
Rich, I guess this wasn’t a popular topic, but I thought I’d follow up anyhow. I cannot recommend the TradersAccounting.com FOREX tax products. There is very little information regarding spot forex in their materials, and this $90 CD is really just a front end product designed to get you to set up one or more trading entities and have Traders Accounting do the bookkeeping. Yeah, I know, that’s not shocking, but anyway, I don’t think that their front end product is valuable.