Comments on: Can I claim losses in Forex investing on taxes and still claim the itemized deduction? http://www.myylt.com/2009/03/03/can-i-claim-losses-in-forex-investing-on-taxes-and-still-claim-the-itemized-deduction/ Discussion of Forex Trading and Currency Trading Wed, 23 May 2012 00:04:35 +0000 http://wordpress.org/?v=2.3.3 By: travelguruette http://www.myylt.com/2009/03/03/can-i-claim-losses-in-forex-investing-on-taxes-and-still-claim-the-itemized-deduction/#comment-11890 travelguruette Tue, 30 Nov 1999 00:00:00 +0000 http://www.myylt.com/2009/03/03/can-i-claim-losses-in-forex-investing-on-taxes-and-still-claim-the-itemized-deduction/#comment-11890 It has nothing to do with your standard deduction. It is not an itemized deduction. You file a schedule D or schedule C depending on if you are a trader or not. If you are a trader then you had to have taken the mark to market election last year and have more than 600 trades. Then you can file schedule C. It has nothing to do with your standard deduction. It is not an itemized deduction. You file a schedule D or schedule C depending on if you are a trader or not. If you are a trader then you had to have taken the mark to market election last year and have more than 600 trades. Then you can file schedule C.

]]> By: efflandt http://www.myylt.com/2009/03/03/can-i-claim-losses-in-forex-investing-on-taxes-and-still-claim-the-itemized-deduction/#comment-11889 efflandt Tue, 30 Nov 1999 00:00:00 +0000 http://www.myylt.com/2009/03/03/can-i-claim-losses-in-forex-investing-on-taxes-and-still-claim-the-itemized-deduction/#comment-11889 Fill out Schedule D and put the result on line 13. You do have buy/sell records for your trades, don't you? You are limited to deducting $3000 in losses per year and anything more carries over to next year. You can deduct investment interest (margin interest) as a miscellaneous deduction. Is that what you were thinking of as an itemized deduction, or something else? Fill out Schedule D and put the result on line 13. You do have buy/sell records for your trades, don't you? You are limited to deducting $3000 in losses per year and anything more carries over to next year.

You can deduct investment interest (margin interest) as a miscellaneous deduction. Is that what you were thinking of as an itemized deduction, or something else?

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