Where should report this earning in forex trading?

[Kiki]

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.

[zclar]

Hi @Kiki! Thanks for your question.

If this was interest you received/earned for the rollover, you would report this in the 1099-INT section. Here's how to navigate: Where do I enter Form 1099-INT? 

If this was investment interest you paid, you may use the following steps:

1. Click the Federal Taxes tab
2. Click Deductions & Credits
3. Scroll down to the Retirement and Investments section
4. Click the blue Show More in this section
5. Click Start (or Revisit) next to Investment Interest Expense

Keep in mind this deduction is considered an itemized deduction on your return. If you are taking the standard deduction, you will not see an impact on your federal return, but depending on the state, you may or may not see the impact.

I hope this helps!

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"