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Thread: Green Trader Tax

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#4 (permalink)

03-13-2006, 03:36 AM

mwhitmoe

Registered User

Join Date: Mar 2006

Posts: 3

Can One take the 1256 exemption for spot currency transactions?

Thanks for the info. But until this issue is clarified by the IRS, my understanding is that one cannot simply cannot claim the 1256 exemption for spot currency contracts, and that it is all ordinary income. Is that an incorrect understanding?

Thanks!
Mark

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