17 Dec
2003
17 Dec
'03
11:17 p.m.
Lets state it simply, if you make a gain by holding a currency then it must be included in your reported income. At least one writer correctly stated that the IRS likely does not care about small amounts taken on a trip, but they are technically reportable. Same goes for a loss, it is a deduction (with string attached of course) from taxable income. Aside from ecash, helping people to exchange currency is my day job so I see this all the time, especially this month each year. Best FOT Disclaimer: Personal not corporate thoughts.... Frank O. Trotter, III - fotiii@crl.com www.marktwain.com - Fax: +1 314 569-4906 --------------------------------------------