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Form 1099 B shows a loss from futures trades in boxes 8 and 11. These go on form 6781. When I answer the questions, the amount of loss is showing as zero.
How do I post net futures losses? Thank you.
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Form 1099 B shows a loss from futures trades in boxes 8 and 11. These go on form 6781. When I answer the questions, the amount of loss is showing as zero.
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.
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Form 1099 B shows a loss from futures trades in boxes 8 and 11. These go on form 6781. When I answer the questions, the amount of loss is showing as zero.
Careful, my TT-2017 Premier doesn't allow one to do a Federal Capital Loss Carryover to Sch D if you have a loss in 2016 for1256 contracts Oddly, it allows the carry over loss for my state, so I believe there is an error on the Federal Sch D carryover. Almost efiled before I caught this, so I need TTax to let me know how to correct the 2016 carry over loss omission to 2017 Sch D.
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Form 1099 B shows a loss from futures trades in boxes 8 and 11. These go on form 6781. When I answer the questions, the amount of loss is showing as zero.
you're posting on an old thread about a separate issue. Start your own posting