Trump to OPEC: ‘Reduce Pricing Now! Our network of expert financial advisors field questions from our community. Sophisticated content forex trading tax laws ukiah financial advisors around investment strategies, industry trends, and advisor education.
A celebration of the 100 most influential advisors and their contributions to critical conversations on finance. The latest markets news, real time quotes, financials and more. For beginner forex traders, the goal is simply to make successful trades. When trading stocks held less than one year, investors are taxed at the same rate as their ordinary income.
Investors Most spot traders are taxed according to IRC Section 988 contracts. These contracts are for foreign exchange transactions settled within two days, making them open to ordinary losses and gains as reported to the IRS. The main benefit of this tax treatment is loss protection. If you experience net losses through your year-end trading, being categorized as a “988 trader” serves as a large benefit. Which Contract to Choose Now comes the tricky part: deciding how to file taxes for your situation. OTC are grouped separately, you as the investor can pick either a 1256 or 988 contract.