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posted Jun 5, 2019 3:10:45 PM

I have a 1099-B which is Regulated Futures Contract with a loss of 3,573.38. How do I report it and how do I carry it over to next year?

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1 Best answer
Intuit Alumni
Jun 5, 2019 3:10:46 PM

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

 

  1. Click on Federal > Wages & Income
  2. In the Investment Income section click on the Start/Revisit box next to Contracts and Straddles  
  3. Answer YES that you had Any Straddles or Section 1256 Contracts?
  4. Don't make any special elections selections unless they apply to you.
  5. On the Contracts and Straddles page, mark the box next to Sec.1256 Contracts marked-to-market.
  6. Click Continue, and from there TurboTax will take you through the necessary questions and answers tree.

 

 

2 Replies
Intuit Alumni
Jun 5, 2019 3:10:46 PM

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

 

  1. Click on Federal > Wages & Income
  2. In the Investment Income section click on the Start/Revisit box next to Contracts and Straddles  
  3. Answer YES that you had Any Straddles or Section 1256 Contracts?
  4. Don't make any special elections selections unless they apply to you.
  5. On the Contracts and Straddles page, mark the box next to Sec.1256 Contracts marked-to-market.
  6. Click Continue, and from there TurboTax will take you through the necessary questions and answers tree.

 

 

Level 1
Feb 11, 2022 7:21:54 AM

Go To Wages and Income

Then Less Common Tax Situations

Go Contracts and Straddles