Hey.. Do I need to report my overnight futures trades on my taxes? I hope not, since I didn't manually keep track of them, and the broker tax statements only tell you how much you lost. Lets just say.. Even if I need to report them, there is no way that I can accurately report it. What are the repercussions?
Futures are mark-to-market. Just need beginning and ending numbers of the year (with deposits/withdrawls taken into account). http://www.traderstatus.com/futures.htm