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EDUCATION CENTER INTERACTIVE: GTT MESSAGE BOARD Investors >> Investors - General Questions Pages: 1 Previous   Index   Next   Flat   Threaded   h1voltage stranger Reged: 04/09/11 Posts: 1 Section 988       #762 - 04/09/11 05:36 PM Edit Reply Quote I have contated the IRS tring to get information on what forms I would need to fill out if I elect to stay within the Section 988 regs. As of yet they haven't retuned my calls with an answer. I do not need them for 2010 taxes. Trying to get ahead of 2011 taxes. Post Extras:       GreenGTTCPA CPA & CEO Reged: 10/31/03 Posts: 275 Re: Section 988       #765 - 04/12/11 03:29 PM Edit Reply Quote see Green's 2011 Trader Tax Guide. Forex is automatically part of Section 988 ordinary gain or loss treatment. You can file a contemporaneous election to opt-out of Section 988 into capital gains treatment - the capital gains election. -------------------- Robert A. Green, CPA & CEO GreenTraderTax.com Post Extras:       Pages: 1 Previous   Index   Next   Flat   Threaded   Extra information Permissions Misc 0 registered and 1 anonymous users are browsing this forum. Moderator:  NeuschwanderGTTCPA  Print Thread · You cannot start new topics · You cannot reply to topics · HTML is disabled · UBBCode is enabled Rating: Thread views: 2890 Rate this thread Jump to 1 star 2 star 3 star 4 star 5 star *Traders* -----   Trader Tax Status   Mark to Market (MTM) Accounting   IRS Exams   Trade Accounting   Retirement Plans   Entities   Self-Employment Tax*Investors* -----   Investors - General Questions*Hedge Funds* -----   Accounting & Software   Tax, Audit and Business*Proprietary Trading* -----   General issues & Pros/Cons of proprietary trading   Tax issues if working for a proprietary trading firm UBB.threads™ 6.3.2