I have read that foreign currency transaction loss is not deductible.
I just cannot understand the reasoning behind it. A taxpayer buys foreign currency hoping that it will appreciate it value, how is it different from using the same money to buy stocks? But while loss in stock transaction is certainly deductible, foreign currency loss is not. Have I misread anything?
I just cannot understand the reasoning behind it. A taxpayer buys foreign currency hoping that it will appreciate it value, how is it different from using the same money to buy stocks? But while loss in stock transaction is certainly deductible, foreign currency loss is not. Have I misread anything?