DaveF1006
Expert Alumni

Investors & landlords

No it is not possible to claim a 988 loss on a foreign CD account. 988 losses are related to currency traders trading on the Forex exchange and not from losses from foreign bank accounts.

 

Only losses that can be claimed as capital losses claimed on Schedule D are from the sales of stocks and bonds but not from interest or dividends.  This is true for both domestic and foreign accounts.

 

@rset 

 

 

 

 

 

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