Does any one please know how to report the purchase and sell of foreign currency (CNY). Should it be 1040? I can't locate a place to add additional 1040 income.

Any help would be greatly appreciated

posted

Yes. All taxable income is reported on form 1040.

These would be considered Section 1256 Contracts and Straddles.

To enter them in TurboTax you would select the following:

Income
Contracts and Straddles under Investment income

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Does any one please know how to report the purchase and sell of foreign currency (CNY). Should it be 1040? I can't locate a place to add additional 1040 income.

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Does any one please know how to report the purchase and sell of foreign currency (CNY). Should it be 1040? I can't locate a place to add additional 1040 income.

Does any one please know how to report the purchase and sell of foreign currency (CNY). Should it be 1040? I can't locate a place to add additional 1040 income.

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Does any one please know how to report the purchase and sell of foreign currency (CNY). Should it be 1040? I can't locate a place to add additional 1040 income.

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Does any one please know how to report the purchase and sell of foreign currency (CNY). Should it be 1040? I can't locate a place to add additional 1040 income.

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