IRS, Tax related strategies--Traders Message Board

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Strategies & Market Trends : IRS, Tax related strategies--Traders

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To: Moving Sphere who wrote (1229)	3/14/2001 6:39:47 PM
From: underdog430	Read Replies (1) of 1383

Can anyone confirm that this is the way to handle trades in stock index futures (in my case, the ES)? Thanks. Mark ---------------------------------- Message #1229 from Moving Sphere at Oct 13, 2000 12:37 AM Hi Jeff, Funny how we come to meet in this thread as well. For your question, I use Form 6781 (Gains and Losses from Section 1256 Contracts and Straddles) to report my commodity net gain or loss. Instead of listing each commodity trade as in Schedule D for stock trades, you simply take the net gain/loss from your commodity broker 1099-B form and write it on your Form 6781. From there, you then write the Form 6781 net gain/loss on your Schedule D, Part 1, line 4 which is Short-term gain from Form 6252 and short-term gain or (loss) from Forms 4684, 6781, and 8824. I never trade the NQ00Z futures but I've to assume you can only trade it through a commodity broker account instead of a stock broker account. In summary, reporting commodity gain/loss on your tax return is much easier and simpler than reporting stock gain/loss! Since I'm not a tax professional, please consult your own tax advisor for confirmation of the above. MS

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