Is it a straddle?
Just enter Box 11 (gain or loss) in the appropriate TurboTax box.
To do this:
Under Investment Income, click Start/Update on "Contracts and Straddles"
Continue twice and check the box for Section 1256 contracts marked to market.
You will find that TurboTax offers only two boxes for Line 11 (gain or loss) and that is all that has to be entered.
Just in case you need this:
Below are the steps to enter the Regulated Futures Contracts and Options 1099-B information in TurboTax:
- Click on the Federal Taxes tab
- Select the Wages and Income tab
- Select the EXPLORE ON MY OWN option (this may require you to click through one or two other screens beforehand)
- Scroll down to the Investment Income subgroup
- Next the Contracts and Straddles line, and click the start button
- Answer YES that you had Sec. 1256 contracts
- Don't make any special elections selections unless they apply to you
- On the Contracts and Straddles page, choose the box next to the Sec. 1256 Contracts marked-to-market
- Click continue, and from there TurboTax will take you through the necessary questions and answers tree.
