Quick TURBOTAX ES(futures) question.

Discussion in 'Taxes and Accounting' started by jtnet, Apr 15, 2008.

  1. jtnet


    i am double checking my accountant so hopefully next yr i wont need him.
    I have w2s and also trade thru IB so i have the 1099-B thru them, all FUTURES ES trades, where do i enter this info in?
    ib never generated a schedule d for me.

    somone said u dont have to list all your itemized futures trades... so where do i put this $ value in? in bonds? or what of turbo tax?, i know they are taxed differently than stocks.
  2. jtnet


    in spread sheet style or step by step basis???
  3. It is form 6781, 1256 contracts
  4. You have to enter the information manually on form 6781. the program does not ask you about futures trades during the interview portion. Just use the search function in the tax program to find the form. It only takes a couple minutes to enter the information.