The tax rules are totally different when it comes to futures. Your "trader" status doesn't have any effect on futures and their taxes. The deductable limits are totally different - the $3000 rule does not apply - in fact, if you have a lot of losses this year you can file amended returns for previous years and deduct the losses from those years (assuming they were profitable). Section 1256 contracts fall under totally different rules. Just look on the IRS website, it is very simple, far simpler than equities.