How to do SECTION 1256 REPORTING

Forum|Forum|2 years ago
April 26, 2024
1 reply
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Hi there, I bought one call option and sold one put option in 2023 and they both had un-realized capital gain on it on Dec 31 2023 as I have not closed them yet, but etrade already reported the un-realized capital gain on my 1099 form, where in Turbox tax to report such gains? TurboTax downloaded the 1099 directly from etrade but it seems to me it did not capture the un-realized gain that is subjet to Section 1256 reporting. Please let me know how to enter in TurboxTax. Thanks!

Mike9241

Level 15

form 6781 is where 1256 income/loss is reported.

Mike9241

Bluesky-888Author

Level 2

Thank you so much! Do I need to specifically look for form 6781 or it will be automatically filled in when I download 1099-B from my brokerage account? separate question: Also do you know how to report realized option gains?