IB 1256 worksheet for UVXY puts - using Turbotax

Discussion in 'Taxes and Accounting' started by fusiforme, Jul 9, 2020.

  1. Stumped by one thing I need to figure out before I can finish my taxes.

    I received a 1256 worksheet from IB which shows realized P&L for several UVXY puts of various expirations (all 2019).

    However, I cannot find any UVXY trades on my 1099 or any of the other forms I downloaded from IB. Nor are there any UVXY trades listed in the data which IB imported into Turbotax for me.

    I rarely deal with 1256 contracts on my taxes, so I want to make sure I'm not missing something here

    Is there something else I need to be looking at other than the tax forms IB provided for me to get the data on these trades? Or is it possible I don't need to input these trades into Turbotax right now and IB provided the 1256 worksheet for another reason?

    Thanks for your help with this.
  2. Overnight


    If they are 1256 contracts, you do not need to list each trade. All they want is your aggregate PnL for the year, marked-to-market for year end. That will be shown in your 1099-B.
  3. Thanks overnight.

    That seems so much simpler to deal with! Makes me want to only trade 1256 contracts!
  4. Overnight


    Welcome to the dark-side.