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forex llc

forex llc

Taxes – Foreign currency losses in an LLC which operates to others?

Hello, I have an LLC that conducts 2 activities: 1) Consulting / Software Development 2) Work Automated Forex (currency) is said to trade (for example) I did make $ 40,000 work of the Board and $ 20,000 LOST to trade Forex. Can I completely written off the loss of $ 20,000 and only pay tax on income of $ 20,000? If so, What documents do I need and where can I put on my tax return? Thank you!

The tax code does not allow you to mix them. Your company is clearly the work of software development. Income was here and when we had contracts that actually worked. His hobby has been lost foreign exchange. More likely, these are rules of 1256 and included in Annex D and is limited to $ 3000 loss against other income.

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