How do I enter box8 from 1099-b on form 6781? They are futures contracts and not market-to-market or straddles. TT doesn't give me the option to enter the information.

697

1 Best answer

Expert Alumni

Mar 17, 2025 1:40:13 PM

Your futures contracts are Section 1256 investments. Section 1256 investments include non-equity options, foreign currency contracts, regulated futures contracts, dealer equity options, and dealer securities futures contracts. To enter your Section 1256 Futures Transactions in TurboTax Online, From the Tax Home:

Click on Income
Scroll down to "Less Common Investments and Savings"
Next to "Contracts and Straddles" select "Start"
Answer "Yes" to "Any Straddles or Section 1256 Contracts?"
On the next screen, it is highly unlikely that you need to make any elections, so just click "Continue"
On the screen with "Contracts and Straddles", more than likely you only need to select Section 1256 contracts... You may want to read the IRS instructions for Form 6781, Gains and Losses from Section 1256 Contracts and Straddles
Select "I'll report the totals from each broker or account.
Enter the information to report your profits and losses from your Section 1256 Investments.

Expert Alumni

Mar 17, 2025 1:40:13 PM

Click on Income
Scroll down to "Less Common Investments and Savings"
Next to "Contracts and Straddles" select "Start"
Answer "Yes" to "Any Straddles or Section 1256 Contracts?"
On the next screen, it is highly unlikely that you need to make any elections, so just click "Continue"
On the screen with "Contracts and Straddles", more than likely you only need to select Section 1256 contracts... You may want to read the IRS instructions for Form 6781, Gains and Losses from Section 1256 Contracts and Straddles
Select "I'll report the totals from each broker or account.
Enter the information to report your profits and losses from your Section 1256 Investments.

Why sign in to the Community?

How do I enter box8 from 1099-b on form 6781? They are futures contracts and not market-to-market or straddles. TT doesn't give me the option to enter the information.