OK. I will start with a question, for USA region. Many Forex brokers do not send copies of trading to IRS, but Stock Brokers DO send copies. Probably because Forex is closer to gambling than is stocks, since there is no real ownership of currencies purchased. It is more of an honor system where you "hope" your Forex Broker will send you your money when you request it.
My question is: If we have 5 brokerage accounts (as an example), and lose money with 4 out of 5 brokerages, do we still need to disclose our profits from the 5th broker with IRS? (Assuming we still have a net "loss" for the year when we combine the balance sheet for all 5 brokers.)
My question is: If we have 5 brokerage accounts (as an example), and lose money with 4 out of 5 brokerages, do we still need to disclose our profits from the 5th broker with IRS? (Assuming we still have a net "loss" for the year when we combine the balance sheet for all 5 brokers.)
Comment