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New Member
posted Jun 6, 2019 3:23:48 AM

I made it clear that I had losses for Futures Trading in 2016. However; I was not directed to the forms that would figure out how to enter this information. Please help

I did order the Premium Package which indicated that such losses as mentioned above were included.

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1 Replies
Expert Alumni
Jun 6, 2019 3:23:50 AM

Futures contracts are Section 1256 contracts for the IRS.

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

https://turbotax.intuit.com/tax-tools/tax-tips/Investments-and-Taxes/What-is-Form-6781--Gains-and-Losses-from-Section-1256-Contracts-and-Straddles-/INF28448.html

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