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Returning Member
posted Dec 22, 2018 4:06:54 AM

Stock Options and Futures trading

I am trying to figure out which version of the program I need to purchase and will it handle the below listed items:

 

1. I trade stock options and options on the futures market in a taxable account.  Which version of the program should I used will it handle the profits/losses form this type of specialized trading?

 

2. I have a small consulting business Partnership that I need to submit returns for and generate K-1's

 

Any help would be appreciated.

 

0 3 1611
3 Replies
Level 7
Dec 26, 2018 2:35:43 AM

You would need the Business program to file for the Partnership.  This is a separate program from TurboTax for individual tax returns and needs to be purchased in addition to any version for individual returns.  Premier would be best for your personal program and could handle the k-1 entry in your personal return.

New Member
Mar 6, 2020 7:31:50 PM

where do you report the gain or loss of stock option trading

Expert Alumni
Mar 6, 2020 7:48:52 PM

Please follow steps below to enter commodity futures contracts:

  1. Federal Taxes
  2. Wages and Income
  3. Scroll down to Investment Income
  4. Select Contracts and Straddles - answer yes to Any Straddles or section 1256 contracts, don't check any elections (unless they apply to your situation), check the box Section 1256 contracts market to market, continue through the interview. 

@yingliu888