aarora
Level 3
TP traded in bitcoin and commodities on a trading platform that is registered in London. The corresponding bank account linked to the trading account is also with a local UK based bank. The client has a transaction statement from the trading portal and based on I can calculate the capital gains / losses and enter these on form 8949/ Schedule D.
The total assets anytime during the year were less than $10K so it out of FACTA or FBAR reporting.
 
Considering the fact that it's a trading platform in a foreign country that will NOT report the activity to the IRS, are there any other reporting requirements / backup documentation required to be sent to IRS IRS along with his 1040 or separate from 1040?
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