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Get your taxes done using TurboTax
So basically - I switched my broker from Fidelity to Interactive Brokers. Fidelity used to treat options on ETFs structured as PTPs (ones where you need a K-1) as normal capital gains treatment. but Interactive Brokers has them on the 1099-B but designated as Section 1256. Because of this, I am entering these investments outside of the area for reporting 1099-B figures. Unfortunately, I don't have a capital gain on these Section 1256 investments (which I've read yes they would get 60/40 long/short term cap gains treatment) - I have a capital loss this year. And I'm wondering if this capital loss can only be used to offset future Section 1256 capital gains. I'm not planning on trading options or any of this funky stuff anymore so I will likely never have any Section 1256 capital gains to offset this loss, and so I'm hoping I can use this loss to offset traditional capital gains gotten from stocks in future years (I have both short and long term capital losses this year). Thank you