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I understand that to qualify Foreign currency transactions, it must be held for 1 year and 1 day. I have read the Publication 525 (2012) on Foreign currency transaction that it would be considered a capital gain at the current rate of 20%. But I have read other articles that it would be considered ordinary income , and taxed at the highest rate of 39.6 + 3.8 Medicare Investment tax :Obamacare" Does anyone have a factual answer..xxxxx xxxxx
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