Hi,
How do I carry this over to the NIIT form? Basically have around $100K in 'interest' from foreign government bonds, but it is offset by approx $100K in that country's currency depreciating. So in USD terms made ~$0 round-trip (USD->forex->bond->forex->USD).
Even if I add the loss as negative income, TurboTax wants me to pay ~$3k in NIIT. But as far as I can tell, treasury regulations clearly say "... foreign currency gain or loss that otherwise is not subject to the Self- Employment Contribution Act is appropriately treated as net investment income. ". So my understanding is I should be able to adjust the NIIT to deduct the loss.
