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scott113
New Member

Where do I record a consolidated loss on investments in Futures and Futures Options?

I have losses on trades in futures and futures options that were all purchased and sold in the same year.  The broker provides a consolidated loss number only.  I can't figure out how to correctly get this into Turbotax Self-Employed.
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1 Reply
JohnB5677
Expert Alumni

Where do I record a consolidated loss on investments in Futures and Futures Options?

It’s your responsibility to keep the records of your transactions. The most common way to do this is to download your order or trading history from your exchange’s website. You may need to do this a few times throughout the year due to limits on how far back you can get information.

 

You should have a 1099-B that records all of your sales throughout the year.

 

You will post Futures like Stocks, Mutual Funds, Bonds, Other.

  1. Start with Income & Expenses
  2. Stocks, Mutual Funds, Bonds, Other
  3. The first time through you will get Did you sell stocks, mutual funds, bonds, or other investments in 2020? 
    1. Yes
  4. OK, what type of investments did you sell?
    1. Select Other
  5. Enter Financial Institution name
  6. Now we’ll walk you through entering your sale details
    1. Select Other
  7. What type of investment did you sell? Learn more
  8. Continue to post your Transactions.

 

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