tax reporting in day trading futures?

Discussion in 'Index Futures' started by trader_david, Feb 4, 2009.

  1. I heard it is very simple to report gain/loss, just print the year around total profit or loss, do not need print every single transaction, do not need do wash sale, is that right?
  2. Jachyra


    Pretty much... all you need is your 1099 that your clearing firm provides you at the end of the year. Although, the same information is usually printed in the YTD column of each daily and monthly statement you get.
  3. Exactly, it's mark to market. You file under section 1256 contracts.
  4. thanks very much, do appreciate your answer