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- Where do you report foreign currency realized gain from 1099 supp information?
Where do you report foreign currency realized gain from 1099 supp information?
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liguori5
Level 1
02-23-2023
11:41 AM
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PhoebeRoberts
Level 11
02-23-2023
11:55 AM
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Personally, I run it through the 4797, but I know other people put it on what used to be Line 21. It's ordinary and subject to NIIT, so anything that gets that answer works.
If your client has gross Sec 988 losses unreduced by Sec 988 gains in excess of $50k, it's a reportable transaction.
