yes. an S&P futures contract comes under the definition of 1256 contract. for 1256 contracts at the end of the year gain or loss must be figured and reported by computing its market value and comparing to its cost
the net is reported under the contracts and straddles section of Turbotax. it shows up on form 6781. 60% of any gain or loss is treated as long-term and 40% as short-term.
for some more info
https://www.tradelogsoftware.com/resources/filing-taxes/futures
