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Where are section 1256 option contracts reported on the 1049
where are section 1256 option contracts reported on the 1049 formPUT SPX $2715 12/20/2019,(###) ###-####Z 10/25/2019 12/20/2019 1.200 1,080.83 0.00 -1,080.83 10/25/2019 12/20/2019 0.800 720.55 0.00 -7… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
21,808 satisfied customers
I had a quick questions. I am a trader with a significant
Good morning. Yes, I had a quick questions. I am a trader with a significant amount of capital losses on section 1256 contracts (options, futures, etc). Are you familiar with those? … read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
21,808 satisfied customers
Do i report a commodities trading loss on both 1099 and
do i report a commodities trading loss on both 1099 and 6781? … read more
Tax.appeal.168
Tax.appeal.168
Principal
7,903 satisfied customers
What is the tax treatment of section 1256 contracts and how
What is the tax treatment of section 1256 contracts and how are they reported in terms of value and realized gain or loss.… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
21,808 satisfied customers
Consolidated 1099 under Regulated futures Contacts has -
Consolidated 1099 under Regulated futures Contacts has - Profit Realized on Closed contacts 10,000; Unrealized profit on open contracts 2016 -2,000, Aggregate Profit $8,000. Are all regulated futures … read more
Carter McBride
Carter McBride
LLM
5,733 satisfied customers
A client of mine got a 1099-. It has $112 loss shown on line
A client of mine got a 1099-B. It has $112 loss shown on line 8 and the same amount of loss on line 11. Do I put it on form 6781 and if so on what section do I put it on? Is it on line 6 Net Section 1… read more
PDtax
PDtax
Owner
Master's Degree
5,922 satisfied customers
. I'm . My question is about sec. 1256 gain/loss from
Hi. I'm Jane. My question is about sec. 1256 gain/loss from forex trade. Every year there is a net sec. 1256 contracts capital loss reported on Sch. D. $-3000 is deducted, the excess loss is carried f… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
36,549 satisfied customers
Tough question: If I want to hedge a position in the SPY
Tough question: If I want to hedge a position in the SPY etf using options on the VIX (volatility index), will this be considered a 'straddle' position by the IRS? I am hoping that it is NOT a straddl… read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
2,885 satisfied customers
I am not 100% sure how to list Forex losses on my return. Should
I am not 100% sure how to list Forex losses on my return. Should I just enter negative number under line 21 (other income) or I should Fill out form 6781, Part 1, Section 1256 contracts and opt out of… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
19,551 satisfied customers
Hi, it looks like I will have approx 35k in losses trading
Hi, it looks like I will have approx 35k in losses trading 1256 contracts this year. I am not a full time trader. Can I offset these losses if I sell stocks, that if sold will have capital gains for m… read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
2,885 satisfied customers
Hello. I understand that if you are trading options and futures
Hello. I understand that if you are trading options and futures in the stock market, certain assets are taxed at the normal income tax rate, and certain are taxed at the lower capital gains tax rate. … read more
Wendy Reed
Wendy Reed
Master Tax Advisor Enrolled Agent
Master's Degree
3,136 satisfied customers
CPA or Tax Lawyer What form do I need to file for Futures
CPA or Tax Lawyer: What form do I need to file for Futures Trading and Foreign Currency Trading? There are conflicting answers that I get. I have a 1099B with a single figure on it that shows a Future… read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
2,885 satisfied customers
I trade forex with Alpari (US) and they have issued me a 1099-b
I trade forex with Alpari (US) and they have issued me a 1099-b with an Aggregate profit or (loss) of -94.09. I'm using Turbotax and its asking me choose my election for Form 6781, Gains and Losses Fr… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
21,808 satisfied customers
I am a independent commodity introducing broker. I had a client
I am a independent commodity introducing broker. I had a client commodity trade error in 2008. My firm that I clear through, put the errant trades into my own error account. Then I had to move persona… read more
Lou
Lou
High School or GED
272 satisfied customers
How are short term and long term options reported on Schedule
How are short term and long term options reported on Schedule D? How are short sales of stocks reported… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
36,549 satisfied customers
Net section 1256 contracts loss election question.
In 2006 I had a section 1256 gain (form 6781 commodity futures) of $9,000. But, I had a capital loss carryover of $30,000 from prior years so I did not have to pay taxes on that $9,000 gain. It just r… read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
2,885 satisfied customers
I am trying to find out how to properly report tax ...
I am trying to find out how to properly report tax gain/loss info from trading stock options like credit spreads where you simultaneously sell a call or put and then buy and call or put. Sometimes the… read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
2,885 satisfied customers
i have received a 1099B. I have information for ...
i have received a 1099B. I have information for lines 8, 10 & 11. how and where do I enter this… read more
Wayne Brasch
Wayne Brasch
Accountant and Business Consultant
Master Degree
718 satisfied customers
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