Thanks. I found TaxAct website stating that FX trading loss is under section 988 unless I chose to opt out. Because I have not opted out, sec 988 seems apply, not Sec 1256, and with sec 988 no $3,000 limit as you noted.
One thing I need to confirm with pro is if I can use sec 988 as the FX company I am using is not U.S. based.
With this basic understanding, I am more comfortable with paying a service fee to pro as 24% of $30,000 is $7,200, which is a quite saving.
