My Annual Statement (Forex.com) states I have " Financing " $117.46
This income should be reported in INTEREST 1099INT section ?
I had open position USA/JPY for several months.
The description they sent me for " Financing " in the statement is :
A rollover /financing is the interest paid or earned on an open position held past the close of the NY trading at 17:00 ET, reflecting the interest rate differential between the two currencies. Usually it is applied at around 19:30 ET. Rollovers are conducted to prevent the spot forex contracts on which our products are based from coming due and requiring delivery, or settlement. This allows our clients to maintain positions virtually indefinitely without the risk of incurring the expense and complication associated with taking delivery. GAIN Capital does not facilitate delivery of spot forex contracts. All trades held past daily close are rolled over.
Greatly appreciate for your help.
