Help with Taxes - Futures Trades and 1099 form

Discussion in 'Taxes and Accounting' started by mmm, Oct 9, 2005.

  1. mmm

    mmm

    Hello,

    It's getting down to the wire here for filing my 2004 taxes (due on Oct. 17th with all the deferments) and I'm a bit stuck on how to properly handle my futures trades.

    Previously I had an accountant do my returns, but this year I decided to save the bucks and do it myself.

    I have a 1099 form from IB listing my futures trading activity and commissions.

    I have all my transactions details for 2004.

    I qualify as a trader in securities and commodities, and I have NOT elected mark-to-market.

    Any suggestions on how to proceed would be greatly appreciated.

    Thanks for your help in advance.

    -- MMM
     
  2. nkhoi

    nkhoi Moderator

    send everything to IRS and let them figure it out.
     
  3. mmm

    mmm

    That's pretty funny. It would be cool if the IRS would figure out everything for you in a fair and equitable manner.