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I would assume that most likely the 30% distribution is all we will see.
In that case, everyone has a loss of 70 percent of their account. Here is another question regarding PFG.
Q; What are the possible tax treatment for this loss?
It is certainly not a trading loss or a capital gain or loss (1250) deduction. Is it a theft, robbery, disaster, bad loan loss or what?
I know the answer would be to talk to your accountant or lawyer. But would be nice if someone with knowledge would comment here.
Thanks.
p.s. I will ask Robert Green, CPA (GreenTradersTax), during his appearances in the Vegas Traders Expo on 11/14-17/2012.
Can you help answer these questions from other members on NexusFi?
I received a stmt from Vision a few days ago. I filled out Form 2 for Vision (for them to sent me my money). I e-mail Vision all required docs on Thursday.
Today I got reply from Vision saying they were processing my info.
The money will go to one of the Forex brokers I have, or 1 of the futures firms I use. I have 2 of each right now. I'd really rather not mention them by name in this forum. You can PM me though.