I have 2 accounts with etrade. One is for regular stock trade, one is for future trade (regulated futures contracts).
When I use import feature in turbotax, it imports the regular stock trade information, but not the future trade. The 1099B for future only has 3 lines, line 8,10 and 11. Line 11 shows the aggregate profit or loss.
if I choose manually input, turbotax asks me the line 1f, .... but this 1099B does not have 1f line.
How can I input this into turbotax? which feature I should use?
thanks
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You can use either version of TurboTax, i.e., TurboTax online or TurboTax CD/download. You are correct in that TurboTax cannot electronically import amounts in boxes, 8, 10, and 11 from a 1099-B, all of which relate to Section 1256 Contracts. In either version of TurboTax, you can enter the information from boxes, 8, 10, and 11 through the step-by-step process. Thus, if you were using TurboTax online, after selecting Wages & Income (left margin), scroll down the screen to Less Common Investments and Savings. Select Contracts and Straddles, and then on the screens that follow, enter your information. For example, on the screen Section 1256 Contracts, you will see fields that correspond directly with box 8 and box 11 on your 1099-B.
In TurboTax CD/download, the process is similar. From the Personal tab, select Personal Income, and then scroll down the screen to Investment Income and select Contracts and Straddles. Thereafter, enter your information.
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