Greetings, As a new trader in futures and still learning the ropes,an obvious yet likely naive question is concerning keeping track of trades for income tax time. The amount of trades that some perform would be several pages of statement per month. I know of the software program that appears to do this all for you,I dont want to mentionit if its off limits.Is that the way to go? It would appear to me Ricky that anyone who can consistently profit 12 points net will do well,just a matter of adjusting size. 10 contract for 12 points seems far more likely than 1 contract for 111. cordially Tom
One of the beauties of trading futures is that you don't need to concern yourself with such mundane tasks (at least as far as the IRS is concerned). You'll get a a year end consolidated 1099-B form from your broker. Piece of cake. Peruse this website for details. Lots of good free info here -- http://www.greencompany.com/