Are unrealized foreign exchange gains and losses taxable?
Let’s find an answer to "Are unrealized foreign exchange gains and losses taxable?". The most accurate or helpful solution is served by treasury.gov.
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Best solution
TAXATION OF FOREIGN EXCHANGE GAINS AND LOSSES* ... "Federal Income Tax Treatment of Foreign Currency Transactions after the Tax Reform Act of 1986."
treasury.gov
Other solutions
I just read today that foreign exchange gains/losses are taxable. I've converted CAD to USD and invested in USD stocks for many years but never reported the foreign exchange gains/losses beyond converting the value of each USD trade into CAD using B...
Answer:
You have been accounting for your trades correctly. If most of your money remains in USD, you will not...
Allan Accountant at Yahoo! Answers Mark as irrelevant Undo
Answer:
Www.marketwatch.com has a daily listing of gainers and losers, as well as a recap of yesterday's gainers...
Carl M. at ChaCha Mark as irrelevant Undo
Hi does anyone know what dates are used for calculating gains on foreign exchange for tax purposes ?? I'll be returning to canada next year after some time away but don't want to bring all my money because of the poor exchange rates. If i leave it in...
Answer:
Calculations for Canadian capital gain are made in Canadian dollars. The purchase price and sale price...
neoplop at Yahoo! Answers Mark as irrelevant Undo
For trading securities, unrealized holding gains and losses are included in earnings on: 1 - only at the end of the fiscal year 2 - on each reporting date 3 - only when they exceed 10% of the underlying investment 4 - based on a vote of the board of...
em at Yahoo! Answers Mark as irrelevant Undo
Hi. I have a question related to Canadian income tax, specifically to capital gains and losses. I forgot to report some capital gains and losses from a prior year. Is it possible for me to report them in my next income tax return? If so, what is the...
Answer:
Either go online and make the adjustments using My Account or you can fill out a T1 adjustment form...
CT at Yahoo! Answers Mark as irrelevant Undo
Filing status joint, taxable income less capital gains - $59000, Long term capital gains - $10000 Short term capital gains - $10000, tax on short term gains - $1500, tax on long term gains – 0, total federal tax - $9500 Filing status joint, taxable...
Answer:
You are talking about dollars and federal rates. Obviously, the reference is to the United States of...
kelby767... at Yahoo! Answers Mark as irrelevant Undo
I sold a bunch of Master Limited Partnerships in a taxable account this year due to a possible govt threat to tax MLPs as corporations in the future at some time. That said, I have large capital gains from the sale and possibly some other gains I am...
Answer:
The $3000 limit isn't on your carryover loss, it's on NET loss shown on this year's schedule D. NET...
Investor... at Yahoo! Answers Mark as irrelevant Undo
I want to buy long and short position (bull and bear) etf's and attempt to time the market. I understand the wash rule says that I cannot claim the short term losses on my taxes, but will these losses offset the short term gains? Or will I be forced...
Answer:
You just can not take the loss if you buy back the same stock. Otherwise gains will be offset by losses...
Camerony at Yahoo! Answers Mark as irrelevant Undo
I have about 5,000 in losses on long term stock holdings that I recently sold. I have also recently sold a stock for 2,000 in profit short term gains though. So can I offset these gains with the 5,000 in losses? Then I should have 3,000 left over in...
Answer:
correct, sort of - it's farther up on the form before you total everything to calculate your AGI, but...
gabe c at Yahoo! Answers Mark as irrelevant Undo
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