Tax Question

Discussion in 'Taxes and Accounting' started by syd697, Feb 6, 2003.

  1. syd697


    I believe this topic was discussed in another thread, but can't seem to locate it.

    As an individual at-home trader of both futures and futures option contracts (e-minis and open outcry), and stocks and stock options, I've read that you can separate the two businesses to take advantage of MTM (marked-to-market) for the equities side, and take advantage of special tax treatment for the commodities/futures side. My question boils down to how to file these separate businesses as 1 individual (myself).

    Anyone involved in this same type of situation? Replies appreciated.
  2. MTG


    My understanding ( not an expert) is that you need a seperate Sch C for each type of trading. One for equities, one for commodities. You need to trade out of seperate accounts. I don't know if the IB universal account is considered seperate???
    Equity income/loss on Sch D, Commodity income/loss on Form 6781