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Ok--my final post on this topic. Hope it may be of use to someone who wants to trade international stocks on IB but does not have previous experience with Forex. After reading all of the posts here again and experimenting more in IB trader workstation, I reached the conclusion there was no need...

Thanks to everyone who has replied so far. I am familiar with the different options IB offers for making international trades which are detailed here by some posters. (Buy the currency beforehand and so on...) However, for better or worse, I already chose the margin loan option. I'm not sure...

I have never traded Forex and only began trading in stocks denominated in foreign currencies this year in my IB account. The majority of these trades have been in stocks denominated in CAD, and my base currency is in USD. I have been buying these stocks using the IB margin loan. I have not...

Handle, before you could set up the self-directed 401k did you have to incorporate as an LLC (S-Corp)? This is one of the issues I'm looking into, since to do that I believe you need professional trader status (for which I'm not sure I technically qualify).

Thanks a lot to everyone who has replied so far. All the links and information you sent looks very useful. Will begin looking into it more now.

What options exist for creating and funding a retirement account, if all one's income is derived solely from investing and trading? Has anyone found a way to do this, who is not a day trader? From the research I've done so far, I can only find one: you must qualify as a professional trader and...

Since I have been buying and selling some of these funds (at first without realizing different tax laws applied), I have been researching this topic and trying to get everything clear. From what I have read so far, my understanding is that funds like GLD and SLV are taxed at the collectible...

There are a few "F" listed OTC stocks I have been trading for awhile in my Schwab account. Now I am setting up an IB account, with the intention of doing most of my trading there. Once I do, I will be able to trade directly on foreign exchanges for the first time. I'm not yet sure what...

I'm considering opening up an individual retail account with interactive brokers. What's I'd like to know is what fees to expect, because after browsing the information on the site and reading a few threads by users a few things are unclear. The one fee I understand with certainty is that you...

Spr, Sorry for my delay in getting back to this thread. Too many distractions. To answer your question: yes, I did dispose of all the shares bought at the end of 2013 in 2014. I will try to break it down simply, to give you a clear picture: 2013 Current year increase: $2,401 - 30 shares...

Ok I've got my k1. And I am just starting to go over it. So far I am very confused by what I see. This time I have a number of cumulative adjustments, for all the trades I made in 2014. But there is no number in the "cumulative adjustment" column which corresponds to the "2,401" which was my...

Ok, this all makes sense. Unfortunately Proshares has not yet issued my 2014 k-1, so until they do, I will have to remain in suspense. But why is there no cumulative adjustment to tax basis for the 30 shares I bought and sold in 2013?

I want to refer you to this accounting discussion, because although it is about a different proshares ETF it seems relevant to what we are trying to figure out here. http://forum.thetaxbook.com/archive/index.php/t-20027.html I think the most relevant part is the case discussed at the end of...

Well, so much for my thinking this was simple! I have the same columns on my 2013 sales schedule as you. But all cumulative adjustments are listed as 0. To clarify: The three transactions on my sale schedule represent a total of 30 shares of SVXY I bought and sold in March 2013 for a small...

For my disposed units there is no cumulative adjustment to tax basis. I have three lots of disposed units, all showing "0" for the cumulative adjustment to tax basis. In total there are three lots, two purchased on 10/07/13, one one purchased on 10/09/13. All Sold on 10/23/13. So on my...

One more question, about something I just noticed: I have a small deduction in 13 with a "K" next to it on my K1. It seems like somehow this is being subtracted out of the number in 11C, because under L current year increase I see a number which represents 11c with the deduction in 13 being...

This is for 2013. I will be submitting an amended return. I have a lot of SVXY transactions for 2014 as well, but now I feel confident I can deal with those properly when I receive the k-1. It's a relief because now I feel comfortable enough to go back to trading SVXY, instead of using XIV. I...

sprstpd, Finally, I think I have understood how it all works! what was throwing me off was exactly what was going on with the math "behind the scenes" in turbotax and how all the numbers were joining together when I made the adjustments. But in addition to your latest reply, I also found a...

sprstd, I'm hoping I can pick your brain again about this k1 issue, because I just returned to the states and I now have all my tax information before me. The most relevant info: I see I bought and sold for a profit a small amount of SVXY shares during 2013. On my sales schedule the...

Amalgam, I appreciate the link to the related question on the intuit forum. I will see what I can learn from that. sprstpd, thanks a lot for your detailed reply. it is very helpful. Since ProShares themselves couldn't help me, I suspect you are right about most tax experts also being...