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You probably don't want crypto transactions to be taxed like forex ones--unless you enjoy paying capital gains taxes before you've even sold: https://www.invest
by pembrook 5y ago
You probably don't want crypto transactions to be taxed like forex ones--unless you enjoy paying capital gains taxes before you've even sold:
https://www.investopedia.com/terms/s/section-1256-contract.asp https://www.investopedia.com/terms/s/section-1256-contract.a...
- dcolkitt 5y agoYou're confused. Section 1256 applies to futures, not forex. Spot forex positions are taxed as ordinary capital gains under Section 988. Under very specific conditions a high-volume spot forex trader who never takes deliver may elect to be taxed under 1256, but that's completely optional. https://greentradertax.com/a-case-for-retail-forex-traders-using-section-1256g/ https://greentradertax.com/a-case-for-retail-forex-traders-u...