Business & farm

Thank you for your response.   As a reference for others, here is how I reported my 1099-B info.

 

I didn't have a "Less Common Investments and Savings" section.  I am using TurboTax Deluxe and  have a  "Less Common Income" section but there was no  Contracts and Straddles  link there.  Instead I found the  Contracts and Straddles  link at the bottom of the "Investment Income" section. 

 

I have not made any special elections related to my account so I left all these boxes blank.

 

My form 1099-B relates only to regulated futures contracts.  I had no offsetting positions (straddles) so I checked only the first box (Section 1256 contracts market to market) .

 

The next  screen is pretty much self explanatory except it has a text box for line 8 labeled as "Account Description."  On my  Form 1099-B line 8 contains an amount for "Total Profit/(Loss) on Futures Contracts in USD for 2022."   If my 1099-B is formatted correctly, then TurboTax has this input box mislabeled.  I left this box blank.

 

TurboTax does not provide  input boxes for 1099-B lines 9 and 10.  

 

TurboTax provides two boxes for 1099-B line 11; one for gains and one for losses.   Here I input the amount from line 11 in the appropriate box and left the other blank

 

I believe reporting only an amount from 1099-B line 11 is sufficient to calculate your tax liability.  Line 11 is the net of the lines 8 (current year realized P/L) and line 9 (prior year unrealized P/L) and line 10 (current year unrealized P/L).   Thus the year-end mark to markets (unrealized P/Ls) should roll forward and be included in the taxable gain/loss reported on line 11.

 

I hope my experience may help others. Please post if you have any comments or corrections.