Where do I find the info for Box 8 on Section 1256 Contracts under income category?

[briteiii]

Neither Box 8 on my 1099-B nor on form 6781 is a' description'.

[ChrisJ]

You need to report this transaction as a section 1256 contract.

A section 1256 contract is any:

• Regulated futures contract,
• Foreign currency contract,
• Nonequity option,
• Dealer equity option, or
• Dealer securities futures contract.

Use Part I of Form 6781 to report your gains and losses from all section 1256 contracts that are open at the end of the year or that were closed out during the year. This includes the amount shown in box 11 of Form 1099-B. Then enter the net amount of these gains and losses on Schedule D (Form 1040), line 4 or line 11, as appropriate. Include a copy of Form 6781 with your income tax return.

To enter form 6781 follow these steps.

1. Sign into your account and select your current return

2. Select My Account and then Tools

3. Select Topic Search (see attached image)

4. Search for 6781 and select go

This will take you directly to the area to enter the information from your 6781.

[Jr455179]

How can I report Box 8 and Box 11, for Options Trades , Form 1099B, on my tax declaration with Turbo Tax

[DaveF1006]

it depends.  is this an employer stock option or a open market option?