- How do I opt out of Sec. 988 to get Sec. 1256 treatment of any Forex gains? Is this done once? Annually? Revocable?
- If I have losses and don't opt out of 988, how are they treated? Ordinary loss on a business? Is that really better than a Sec. 1256 loss? Even with no business gains?
- I assume Forex is automatically mark-to-market, right?
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