The Exchange WILL NOT be a capital gains taxable event and here’s why: For US tax purposes: Section 988: The default treatment for foreign exchange (forex) gains and losses for US tax residents is Section 988. Under this section, forex gains and losses are treated like ordinary income, not capital gains. This means that gains are taxed as ordinary income, and losses are deductible as ordinary losses, subject to certain limitations…Fnu Lnu [dinar guru Note: Consult your tax professional at the appropriate time to determine the right tax for your unique circumstances]
