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ronscarpa

Tuesday Afternoon Guru Opinions @ 4 PM - 6/11/2019

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6-11-2019  Guest Guru BobTheTaxMan  ...a lot of people have come up and said, 'well I've been told the dinar will be treated as capital gains.'  In [IRS Code] 1256 you have to identify yourself as being a trader and you have to be actively trading.  Which means you have a period of time that you've identified that you're going to hold it and you're going to sell it.  We're not doing that.  We've all bought dinar.  We're hanging on to that dinar...And it's not going to qualify for 1256 because we don't have a contract date for when we're going to exchange it.  Simply not going to happen.  1256 is great if you're actually going to do the forex world...have a conversation with your tax professional...[NOTE:  BobTheTaxMan thinks it's wise to claim the dinar exchange as ordinary income.  Speak to your tax and financial professional at the appropriate time.]



6-11-2019   Newshound/Intel Guru Mnt Goat   Article quote:  "A parliamentary source confirmed on Saturday that Prime Minister Adel Abdul Mahdi WILL SEND THE NAMES OF CANDIDATES FOR VACANT MINISTRIES TO THE HOUSE OF REPRESENTATIVES NEXT WEEK." (which is this week)  The news channels in Iraq are mostly filled with news of completing the Mahdi government on time. This is going to come to a conclusion one way or the other. Mahdi was hoping that the political blocks could come to an agreement of candidates but this is now not the case.   So, Mahdi has the power to submit his own list of names and let parliament move forward with the vote to ratify them.

 

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