Am I right in hearing that UVXY (and I presume VXX) get K1 treatment at Interactive Brokers and Sec. 1256 treatment at TD Ameritrade?
You should check with your tax specialist, but it is my expectation: No ETN or ETF gets 1256 treatment-the options..maybe. https://greentradertax.com/trader-tax-center/tax-treatment/section-1256-contracts/ I'm not sure what you do with the K1-https://www.proshares.com/k-1_tax_information/
From what I determine, UVXY options are considered section 1256 contracts. They are based on a direct holding of a regulated futures contract and regulated futures contracts and non-equity options get 1256 treatment. I'm going to think buying and selling UVXY also gets 1256 treatment, not just the options.