{"id":71409,"date":"2018-09-10T20:06:48","date_gmt":"2018-09-10T20:06:48","guid":{"rendered":"http:\/\/tradertaxcpa.com\/?p=71409"},"modified":"2018-09-10T20:06:48","modified_gmt":"2018-09-10T20:06:48","slug":"tax-treatment-of-foreign-currencies","status":"publish","type":"post","link":"https:\/\/www.tradertaxcpa.com\/index.php\/2018\/09\/10\/tax-treatment-of-foreign-currencies\/","title":{"rendered":"Tax Treatment of Foreign Currencies"},"content":{"rendered":"<p><strong>Foreign Currencies<\/strong> are taxed under IRC Section 988 as ordinary gains and ordinary losses.\u00a0 As such they are taxed at current income tax rates and losses are not subject to the $3,000 capital loss rule.<\/p>\n<p>Not sure what a capital gain or capital loss is?\u00a0 Not sure your current income tax bracket?\u00a0 Refer to <a href=\"http:\/\/tradertaxcpa.com\/index.php\/2018\/09\/10\/taxableincome\/\">this post<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Foreign Currencies are taxed under IRC Section 988 as ordinary gains and ordinary losses.\u00a0 As such they are taxed at current income tax rates and losses are not subject to the $3,000 capital loss rule. Not sure what a capital gain or capital loss is?\u00a0 Not sure your current income tax bracket?\u00a0 Refer to this [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":71415,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_glsr_average":0,"_glsr_ranking":0,"_glsr_reviews":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false},"version":2}},"categories":[52],"tags":[64,65],"class_list":["post-71409","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tax-treatment-of-securities","tag-foreign-currencies","tag-forex"],"jetpack_publicize_connections":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Tax Treatment of Foreign Currencies - Trader Tax CPA, LLC<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.tradertaxcpa.com\/index.php\/2018\/09\/10\/tax-treatment-of-foreign-currencies\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tax Treatment of Foreign Currencies - Trader Tax CPA, LLC\" \/>\n<meta property=\"og:description\" content=\"Foreign Currencies are taxed under IRC Section 988 as ordinary gains and ordinary losses.\u00a0 As such they are taxed at current income tax rates and losses are not subject to the $3,000 capital loss rule. 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