Tax Question

Discussion in 'Energy Futures' started by white_zombie, Jun 24, 2007.

  1. Hi,

    I have a question on futures taxation, can one offset futures contracts gains(in the 60/40 manner) against capital loss from securities which has been carried over from the past years ?

    Thanks!

    -White
     
  2. Surdo

    Surdo

    Yes you may offset your futures gains vs equities loss carryover.
    Use IRS form 6781 for the futures, and then the carryover and the results from form 6781 flow to a schedule D.

    http://www.irs.gov/pub/irs-pdf/f6781.pdf

    el surdo
     
  3. what is the tax on capital gains?... I know its high.
     
  4. Surdo

    Surdo

    I guess you never had one!

    el surdo