{"id":381,"date":"2025-06-13T22:39:07","date_gmt":"2025-06-13T22:39:07","guid":{"rendered":"https:\/\/theplugindemo.com\/extensions-for-cf7\/?p=381"},"modified":"2025-11-14T07:14:53","modified_gmt":"2025-11-14T07:14:53","slug":"i-lost-money-trading-foreign-currency-through-9","status":"publish","type":"post","link":"https:\/\/theplugindemo.com\/extensions-for-cf7\/i-lost-money-trading-foreign-currency-through-9\/","title":{"rendered":"I lost money trading foreign currency through OANDA   I have a printed copy from them of my net realized loss but no 1099B"},"content":{"rendered":"<p>Section 988 taxes FOREX gains and losses likeordinary income, which is at a higher rate than the capital gains tax <a href=\"https:\/\/forexarticles.net\/limefx-forex-broker\/\">limefx courses scam<\/a> for mostearners. An advantage of Section 988 treatment is that any amount  of ordinaryincome can be deducted as a loss, where only $3,000 in capital gains losses canbe deducted. &#8220;Except asotherwise provided in this section, any&nbsp;foreigncurrency gain or loss&nbsp;attributable to a section&nbsp;988&nbsp;transactionshall be computed separately and treated as ordinary income or loss (as thecase may be).&#8221;<\/p>\n<ul>\n<li>An advantage of Section 988 treatment is that any amount of ordinaryincome can be deducted as a loss, where only $3,000 in capital gains losses canbe deducted.<\/li>\n<li>Yes, OANDA is a\u00a0Forex and CFD\u00a0broker\u00a0and is regulated by Section 988 of the internal Revenue code.<\/li>\n<li>By default, retailFOREX traders fall under Section 988, which covers short-term foreign exchangecontracts like spot FOREX trades.<\/li>\n<\/ul>\n<p>Yes, OANDA is a&nbsp;Forex and CFD&nbsp;broker&nbsp;and is regulated by Section 988 of the internal Revenue code. You would report&nbsp;your foreign currency&nbsp;loss as a&nbsp;Section 988 transaction&nbsp; and treat it&nbsp;as an ordinary&nbsp;loss in accordance with IRS guidelines. This defaulttreatment of foreign currency gains is to treat it as ordinary income. By default, retailFOREX traders fall under Section 988, which covers short-term foreign exchangecontracts like spot <a href=\"https:\/\/limefx.club\/\">https:\/\/limefx.club\/<\/a> FOREX trades.<\/p>\n<ul>\n<li>You would report\u00a0your foreign currency\u00a0loss as a\u00a0Section 988 transaction\u00a0 and treat it\u00a0as an ordinary\u00a0loss in accordance with IRS guidelines.<\/li>\n<li>An advantage of Section 988 treatment is that any amount of ordinaryincome can be deducted as a loss, where only $3,000 in capital gains losses canbe deducted.<\/li>\n<li>&#8220;Except asotherwise provided in this section, any\u00a0foreigncurrency gain or loss\u00a0attributable to a section\u00a0988\u00a0transactionshall be computed separately and treated as ordinary income or loss (as thecase may be).&#8221;<\/li>\n<li>Yes, OANDA is a\u00a0Forex and CFD\u00a0broker\u00a0and is regulated by Section 988 of the internal Revenue code.<\/li>\n<li>Section 988 taxes FOREX gains and losses likeordinary income, which is at a higher rate than the capital gains tax for mostearners.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Section 988 taxes FOREX gains and losses likeordinary income, which is at a higher rate than the capital gains tax limefx courses scam for mostearners. An advantage of Section 988 treatment is that any amount of ordinaryincome can be deducted as a loss, where only $3,000 in capital gains losses canbe deducted. &#8220;Except asotherwise provided [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[1],"tags":[],"class_list":["post-381","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/theplugindemo.com\/extensions-for-cf7\/wp-json\/wp\/v2\/posts\/381","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/theplugindemo.com\/extensions-for-cf7\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/theplugindemo.com\/extensions-for-cf7\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/theplugindemo.com\/extensions-for-cf7\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/theplugindemo.com\/extensions-for-cf7\/wp-json\/wp\/v2\/comments?post=381"}],"version-history":[{"count":1,"href":"https:\/\/theplugindemo.com\/extensions-for-cf7\/wp-json\/wp\/v2\/posts\/381\/revisions"}],"predecessor-version":[{"id":382,"href":"https:\/\/theplugindemo.com\/extensions-for-cf7\/wp-json\/wp\/v2\/posts\/381\/revisions\/382"}],"wp:attachment":[{"href":"https:\/\/theplugindemo.com\/extensions-for-cf7\/wp-json\/wp\/v2\/media?parent=381"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/theplugindemo.com\/extensions-for-cf7\/wp-json\/wp\/v2\/categories?post=381"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/theplugindemo.com\/extensions-for-cf7\/wp-json\/wp\/v2\/tags?post=381"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}