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.
