Maybe this has been asked before but. For tax purposes, can one cancel out gains in futures vs losses in stocks.
TexTrader, Capital gains and capital losses are netted against each other, so unless you elected mark-to-market under §475 for securities and/or commodities these all remain CAPITAL gains and losses and therefore are offset against each other.
After cancelling the profits and losses, if I have profits leftover from futures, then can I still claim the favorable tax status for futures (60%long term, 40%short term).