How do I enter income from substitute 1099B. OMB 1545-0715?

[sueellengrizzard]

I have a loss from future contracts.

[Ashby · Accepted solution]

Below are the steps to enter the Regulated Futures Contracts and Options 1099-B information in TurboTax:

• Click on the Federal Taxes tab
• Select the Wages and Income tab
• Select  the EXPLORE ON MY OWN option (this may require you to click through one or two other screens beforehand)
• Scroll down to the  Investment Income subgroup
• Next the Contracts and Straddles line, and click the start button
• Answer YES that you had Sec. 1256 contracts
• Don't make any special elections selections unless they apply to you
• On the Contracts and Straddles page, choose the box next to the Sec. 1256 Contracts marked-to-market
• Click continue, and from there TurboTax will take you through the necessary questions and answers tree.

[fanfare]

there's only one item to be entered, Line 11.
If you had a loss enter the amount in the Loss Box.