Tax Help

Beginner Questions
1

OK all, this was my first year receiving a tax statement as a trader and I’m having an issue filing my taxes.

I received a 1099-B statement this year and I only have one entry which is in box 8 (Profit or loss realized in 2007). I haven’t withdrawn anything out of my trading account so I don’t have anything in any of the other boxes pertaining to date/sale of exchange.

Does anyone know where I put this (or if I have to) on Schedule-D in the tax forms? It asks me for everything except box 8 and I know I have to report it but I don’t know where to put it.

Any and all help is appreciated!

Thanks.
Jessica

2

as long as you haven’t traded equities you shouldn’t have anything to do with a schedule-d. your 1099 is your “schedule-d”.

Honestly, you need to consult a cpa. There are SOOOOO many ins and outs to forex tax crap its rediculous. Plus, you don’t want to get it wrong and get raped by the IRS every year for the next 10 years because you screwed something up.