{"id":17303,"date":"2019-06-11T20:17:51","date_gmt":"2019-06-12T01:17:51","guid":{"rendered":"https:\/\/www.dinarupdates.com\/observer\/?p=17303"},"modified":"2019-06-11T20:17:51","modified_gmt":"2019-06-12T01:17:51","slug":"bobthetaxman-9","status":"publish","type":"post","link":"https:\/\/dinarupdates.com\/observer\/?p=17303","title":{"rendered":"BobTheTaxMan"},"content":{"rendered":"<p><strong><span style=\"color: #c23b3b;\">BobTheTaxMan<\/span><\/strong>\u00a0 &#8230;a lot of people have come up and said, &#8216;<em>well I&#8217;ve been told the dinar will be treated as capital gains<\/em>.&#8217;\u00a0\u00a0<strong>In [IRS Code] 1256 you have to identify yourself as being a trader and you have to be actively trading.\u00a0 Which means you have a period of time that you&#8217;ve identified that you&#8217;re going to hold it and you&#8217;re going to sell it.\u00a0 We&#8217;re not doing that.<\/strong>\u00a0 We&#8217;ve all bought dinar.\u00a0 We&#8217;re hanging on to that dinar&#8230;<strong>And it&#8217;s not going to qualify for 1256 because we don&#8217;t have a contract date for when we&#8217;re going to exchange it<\/strong>.\u00a0 Simply not going to happen.\u00a0 1256 is great if you&#8217;re actually going to do the forex world&#8230;have a conversation with your tax professional&#8230; <em><strong>[NOTE:\u00a0 BobTheTaxMan thinks it&#8217;s wise to claim the dinar exchange as ordinary income.\u00a0 Speak to your tax and financial professional at the appropriate time.]<\/strong><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>BobTheTaxMan\u00a0 &#8230;a lot of people have come up and said, &#8216;well I&#8217;ve been told the dinar will be treated as capital gains.&#8217;\u00a0\u00a0In [IRS Code] 1256 you have to identify yourself as being a trader and you have to be actively &hellip; <a href=\"https:\/\/dinarupdates.com\/observer\/?p=17303\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[],"class_list":["post-17303","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p8gMgY-4v5","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/dinarupdates.com\/observer\/index.php?rest_route=\/wp\/v2\/posts\/17303","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dinarupdates.com\/observer\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dinarupdates.com\/observer\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dinarupdates.com\/observer\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dinarupdates.com\/observer\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=17303"}],"version-history":[{"count":1,"href":"https:\/\/dinarupdates.com\/observer\/index.php?rest_route=\/wp\/v2\/posts\/17303\/revisions"}],"predecessor-version":[{"id":17304,"href":"https:\/\/dinarupdates.com\/observer\/index.php?rest_route=\/wp\/v2\/posts\/17303\/revisions\/17304"}],"wp:attachment":[{"href":"https:\/\/dinarupdates.com\/observer\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=17303"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dinarupdates.com\/observer\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=17303"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dinarupdates.com\/observer\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=17303"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}