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Level 1

I have futures trading loses from my Trade Station account. turbo tax is not connecting to my downloaded 1099-B. Where do I enter these losses?

 
3 Replies
Employee Tax Expert

I have futures trading loses from my Trade Station account. turbo tax is not connecting to my downloaded 1099-B. Where do I enter these losses?

Futures contracts are Section 1256 contracts for the IRS.

Please read this TurboTax article on how to report income on Section 1256 contracts.

 

You'll need to complete form 6781.

To do this in TurboTax, please follow these steps:

  • Click on Search on the top right of your screen
  • In the search box, type form 6781
  • In the search result page, click on Jump to form 6781
  • TurboTax will take you through a questionnaire where you can enter your information
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Level 1

I have futures trading loses from my Trade Station account. turbo tax is not connecting to my downloaded 1099-B. Where do I enter these losses?

How do I know which version I have? It doesn't appear to give me a click on Form 6187....

Employee Tax Expert

I have futures trading loses from my Trade Station account. turbo tax is not connecting to my downloaded 1099-B. Where do I enter these losses?

You'll need TurboTax Online Premier or above to access form 6781.

 

Please make sure that you type in form 6781 and not 6187.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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