[cowgirlintex] mott the thing said..wait..According to the IRS publication 525 page 33 Foreign currency exchange resulting in a gain of over $ 200 is subject to capital gains tax. In addition IRS Publication 550 page 40, section 988 states that after Dec. 31,2010 capital gains on currency will taxed at a flat rate of 15% regardless of whether it is short term or long term.
As Thomas Paine said, “If there must be trouble, let it be in my day, that my child may have peace.” Please use discretion. We report all sides to the issues. This is a real time news room.
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