I just started trading the e-mini S&P and NDX and understand the 60/40 tax rule and that futures need to be reported on another form. However, are futures considered capital gains in the end such that they can offset gains/losses you have with stocks and options? TIA
Sure, you can offset. But do it in such a way that you pay your taxes on the futures and not the stocks. Blended capital gains for regulated futures is capped at 28%, and that's a beautiful thing.
It sounds like bone is implying you should offset short term gains from your equities and options with mixed long term and short term futures losses. That is incorrect. By filling in the forms (6781 and Sch. D) you'll see that you can only offset short term gains with short term losses and long term gains with long term losses. And it doesn't matter the source of the gains or losses. Just look at the two forms and you'll have your answer and you won't have to sort out the misleading "advice" here on ET. You can download them at www.irs.gov.