Interactive Broker 1099 form-b

sddolphin — Fri, 19 Feb 2021 02:00:34 GMT

I am importing Interactive Brokers 1099-B and I have entries in the form in the box 8 and 11 under Regulated Future Contracts and Options (Section 1256 Transactions)

Turboxtax fails to import those values. Where do I enter them by hand?

Re: Interactive Broker 1099 form-b

Mike9241 — Fri, 19 Feb 2021 07:54:44 GMT

they get entered net on form 6781 with the broker's name

unless you had straddles

Straddle
A straddle means offsetting positions
with respect to personal property of a
type that is actively traded.
Offsetting Positions
If there is a substantial decrease in risk
of loss to a taxpayer holding a position
because that taxpayer or a related party
also holds one or more other positions,
then those positions are offsetting and
may be part of a straddle. However, if an
identified straddle is properly
established, other positions held by the
taxpayer won’t be treated as offsetting
with respect to any position that is part
of the identified straddle.
General Rule for Straddles
If you don’t make any of the elections
described in box A, B, or C, and you
have a loss on the section 1256 contract
component, use Part II to reduce the
loss by any unrecognized gain on the
non-section 1256 contract component
before making an entry in Part I. You
must also reduce the loss from any
section 1256 contract component of a
straddle that would be a mixed straddle
if the positions had been properly
identified as such.

topic Interactive Broker 1099 form-b in Get your taxes done using TurboTax

Interactive Broker 1099 form-b

Re: Interactive Broker 1099 form-b