Are FX gains and losses included in the Form 1099-B?

TWS and other trading screens will display an Average Price for your executions using FIFO. As there is no Cost Basis reporting for Forex like there is when trading securities, there is no way to change a "Cost Basis method" for your Forex trades…

VIEW FOREX INCOME WORKSHEET

The Forex Income Worksheet is an annual worksheet that provides income and loss information from your completed currency transactions for the year. The Worksheet lists income and loss from nonfunctional currency transactions, including forex trades, trades in securities denominated in a nonfunctional currency, debit and credit interest and other nonfunctional currency transactions. You can locate your Forex Income Worksheet (if applicable) through Client Portal:…

Interactive Brokers includes wash sales on daily, monthly and annual Activity Statements for all 1099-eligible accounts, as required by the IRS. The 1099 forms are issued for US Persons…

IBKR sends an electronic file to the IRS with the same information that was reported to you on Forms 1099.

IBKR also offers tax-advantaged account types for clients who are U.S. citizen, such as IRA accounts. Please click here to learn more about these account offerings. …