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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures
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To: Esteban who wrote (44399)4/14/2001 8:11:58 PM
From: Andriy Turhovach  Read Replies (1) of 44573
 
Esteban -- In very general terms, use form 6781 to report commodity net gain or loss. Instead of listing each commodity trade as in Schedule 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) fromForms 4684, 6781, and 8824. Commodity gains/losses are treated as 60% long term/40% short term. See irs.gov

Caveat: I am NOT an accountant so do double check all this. So far, it has worked for me, i.e. no late night knocks-on-the-door from Uncle's agents ;)

Regards,

Bo
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