AC125
Level 2
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From what I understand, you need to pay taxes on the interest income annually, regardless of the currency. Convert the interest earned annually to USD and repor...
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Here's what I found on NJ tax return which confirms there cannot be a negative number FYIReporting Losses. If you have a net loss in any category ofincome, reme...
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DaveF1006, Thanks!Do you know if the same loss can be deducted in NJ tax return? If so, which form, what line? Will Turbo tax give an error with negative number...
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Another thing I forgot to add.. in the above example, I already paid taxes on the $50 by adding it as ordinary income.
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Basically what you’re saying as per the example that the market loss is capital gains (loss) and currency change is ordinary gain (loss).In my example, it’s a C...
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- Posted Re: Section 988 - Certificate of deposit - loss of principal and interest due to devaluation of c... on Investors & landlords. October 8, 2023 7:32 AM
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- Posted Re: Section 988 - Certificate of deposit - loss of principal and interest due to devaluation of currency on Investors & landlords. March 19, 2023 5:05 AM
- Posted Re: Section 988 - Certificate of deposit - loss of principal and interest due to devaluation of currency on Investors & landlords. March 19, 2023 5:02 AM
- Posted Re: Section 988 - Certificate of deposit - loss of principal and interest due to devaluation of currency on Investors & landlords. March 17, 2023 8:42 PM
- Posted Section 988 - Certificate of deposit - loss of principal and interest due to devaluation of currency on Investors & landlords. March 17, 2023 4:39 PM