SECTION 988
Section 988 concerns capital losses and gains on an investment held in a foreign currency in a financial transaction. According to this section, foreign currency transaction gains are considered as ordinary income regardless if it was earned by an individual or a company. A transaction under Section 988 is associated with the IRS Section 988 that was applied to the succeeding tax years following December 31, 1986.
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Trade or Fade Rule
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A-B Split
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Cancellation
Notification by a broker advising his or her client that an incorrect exchange deal was conducted and that the activity is being pointed out. For e ...
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UFMI
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