Tax Reporting

Discussion in 'Index Futures' started by Hurricane, Mar 4, 2004.

  1. How are futures trades reported on your tax return? Is it done on Schedule D or another form?

    As an example, bought 1 ES for 1000 and sell it for 1100. Total profit is $5000 (100 point difference x $50/point). Are the proceeds from the sale just the $5000 (ignoring commissions) or do you report gross proceeds of $55,000 like on a stock trade?
  2. sprstpd


    From Publication 550:

    Form 6781, part 1

    The net amount on this form goes on Schedule D.
  3. nodelta


    I found the guides helpful.

    I'm not affiliated with this company in any way.