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Strategies & Market Trends : Income Taxes and Record Keeping ( tax )
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From: Elroy3/8/2023 2:06:34 PM
   of 5810
 
Ok tax form wizards, question for you.

I have some trading in 2022 in Section 1256 Contracts - Regulated Futures and Nonequity Options. I have to go into Turbo Tax and modify the cost basis of one of these trades as my broker has reported it incorrectly.
I want to do this by going into TT's "Form Mode" and adjusting the cost basis.
Does anyone know where in the federal tax forms (what schedule letter or form number) this type of income appears? I think in some cases Turbo Tax takes the brokerage's info, and just sums totals and reports them. I'm having a hard time finding the specific trade in the TT output file, so I'm thinking it has been combined in some lump sum total somewhere.

Anybody know on what form Section 1256 Contracts - Regulated Futures and Nonequity Options gets reported?

Thanks in advance.

Also.....on a different note, if I modify TT in "Forms Mode", will it update all the resulting calculations which follow? One would think so, but I've seldom used Forms Mode so I want to make sure.
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