Has anyone filed a forex tax?
Has anyone filed forex gain/loss before?? I have all the records from 2019 but i don't know how to file them properly. Can someone please help?
- JohnLv 51 month ago
Forex sales are reported the same way as stock sales. They are first separated into long term and short term gains and losses. The details are then entered on Forms 8949. The summaries from each 8949 are then carried to Schedule D.
If you have a brokerage statement or spreadsheet which gives the same information as an 8949, you only have to enter the net activity for each category of sale on the 8949. That can save hours in some cases. You must then include a copy of the brokerage statement or spreadsheet with your return.