Are FX trades reported to IRS?

Arjun1 · Feb 25, 2009

Are FX trades included under 1256 contracts?

Hurricane · Feb 25, 2009

I've never found Fx transactions on my 1099 forms.

atticus · Feb 25, 2009

The swap transactions are reported.

operator · Feb 25, 2009

SPot FX is NOT reported to the IRS

atticus · Feb 25, 2009

Quote from operator:

SPot FX is NOT reported to the IRS

Many dealers DO REPORT the swap debits and credits.

operator · Feb 25, 2009

Quote from atticus:

Many dealers DO REPORT the swap debits and credits.

I'm assuming the OP is referring to retail spot fx and not dealing with a major dealer bank.

http://www.greencompany.com/EducationCenter/GTTRecCurrency.shtml

operator · Feb 25, 2009

Quote from atticus:

Many dealers DO REPORT the swap debits and credits.

Also the firm I deal with to trade spot reports nada...