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meanjeanslo88
Level 2
March 4, 2026
Solved

Section 1256 Contracts

  • March 4, 2026
  • 1 reply
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I am reporting on one of my brokerages for the Section 1256 Contracts and am not sure which number I should enter.  The 1099-B has:

8 - Profit or Loss realized in 2025 on closed contracts               -XXX (negative)

9 - Unrealized profit or loss on open contracts 12/31/2024     -XXX (negative)

10 - Unrealized profit or loss on open contracts 12/31/2025    XXX (positive)

11 - Aggregate profit or loss on contracts                                     XXX (positive)

 

All of these have a number.  Do I just report the number for field 11? 

Best answer by Mike9241

yes 11. 

 

Under 1256 open contracts are deemed sold on 12/31, and the unrealized profit or loss is included in the current year's aggregate taxable income or loss. Unrealized profit from the prior year is treated as a loss in the current year, while an unrealized loss from the prior year is treated as a profit in the current year 

1 reply

M
Level 15
Mike9241Level 15Answer
Level 15
March 4, 2026

yes 11. 

 

Under 1256 open contracts are deemed sold on 12/31, and the unrealized profit or loss is included in the current year's aggregate taxable income or loss. Unrealized profit from the prior year is treated as a loss in the current year, while an unrealized loss from the prior year is treated as a profit in the current year 

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