Loss on variations in foreign currency and the question of whether this is tax deductible.
Also
Can you provid me with more details in regard to the $250,000 balance election ?
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Hi @Hunterzhang
We may need a few more details about what assets you're holding, buying or selling which are incurring losses due to forex variations. The income tax laws contain rules under which forex gains and losses are brought to account when they have been realised. There are five different types of Forex realisation events which you can read about here.
You can also find all of the details about the $250,000 balance election on our web site.
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Hi @Hunterzhang
We may need a few more details about what assets you're holding, buying or selling which are incurring losses due to forex variations. The income tax laws contain rules under which forex gains and losses are brought to account when they have been realised. There are five different types of Forex realisation events which you can read about here.
You can also find all of the details about the $250,000 balance election on our web site.