I traded UVIX/SVIX in short-term trades. I profited $X amount and all the trades/gains are reported in my 1099-B from my brokerage which I uploaded to TT.
I also received a K-1 for both ETFs and added that to my income section as a schedule K-1. This automatically added another line income item for 1256 "Contracts and Straddles" showing the same gains as reported in my 1099-B.
The same gain is shown in my 1099-B and the 1256. Do I need to pay an extra tax on these gains since I'm filing a 1256/K-1?
