Quote:
Originally Posted by andyg2
Hello gurus,
I read all this forum and still am not clear how to report what I have. First of all I am not doing FOREX anymore and I did not have any open position as of december 2007. So, I did receive 1099-B form from my broker reporting an aggregate loss of $220 something. So, but I cannot enter a negative amount on line 21 of form 1040. I am using HR Block online tax prep software, and it only let's me input 0 or greater amount on that line. What else can I do?
Also, do I still need to do schedule D as well?
Thanks,
Andy
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Line 21 is for income not reported elsewhere. The loss shown on your 1099-B is a short term capital loss and is reported on Schedule-D and line 13.