Quote:
Originally Posted by GreenTrader Tax
You need to list all line-by-line trades for securities on Schedule D.
Yes, fill out every column.
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Hello GTT
I'm a little bit confused here. So in addition to just put in the gains/loss on line 21 of the 1040 form, we also must list all the line-by-line trades? Speaking of the trades, how would you report the various cross trades, not based in USD, for example, the CAD/JPY? In other words, although my account is in USD, when I buy the CAD/JPY, my record would read something like this:
Buy 100,000 Nov 15, 2007 CAD/JPY ....11,414,000 (yen) Debit
Sell 100,000 Nov 15, 2007 CAD/JPY.....11,439,000 (yen) Credit
Profit: $221.52
The profit/loss is automatically converted to USD. However, the transaction record is in Yen. So if I were to enter EXACTLY like the record shows, my profits would be gargantuan. That's why it would be a relief it all that is needed is to fill in the line 21 on the 1040 form
Thanks
