tax question about futures

Discussion in 'Educational Resources' started by islands111, Jan 27, 2006.

  1. I have a loss of about $2500 trading futures in calendar year 2005.

    how do deduct this on my tax return?
    its not capital gains right?

    I assume I simply deduct it from ordinary income for year 2005.

    can someone please clarify?

  2. Futures Gains and Losses treated as 60% long-term Capital Gain or Loss, 40% Short-term Capital Gain or Loss