maybe one of you has already dealt with this. I find many articles on the internet for how to deal with a broker in a (from my point of view) foreign country. Some also deal with how to deal with losses, but only as far as German banks/brokers are regarded.
Now I expect to make a total loss in 2020 in Trading212.
I plan to stay here and am confident I will make up for those losses next year.
How do I deal with that in my taxes?
Let’s take an example:
2020 result: -2000€
2021 result: +5000€
I assume I can balance those with each other. Which leaves me with having to pay taxes for the result of 3000€.
Now can I just report my result to the IRS by using the tax statement Trading212 provides? (see https://helpcentre.trading212.com/hc/en-us/articles/360008145758-How-to-get-a-Tax-Statement-for-the-financial-year-)
At German banks I’d need a so called “Verlustbescheinigung”, but I’m not sure if Trading212 provides that as well for a foreign bank.