Skip to main content
TurboTax
Community
TurboTax
Community
TurboTax
Community
P
pioneerzhu
February 24, 2025
Question

1099-B Section 1256

  • February 24, 2025
  • 1 reply
  • 0 views
how Turbotax will handle section 1256 pls? after I imported form 1099-B, I don't see it in turbotax.

    1 reply

    M
    Mike9241
    February 24, 2025

    section 1256 gains and losses are first reported on form 6781. then the amounts are carried to schedule D lines 4 and 11. I do not know if Turbotax can correctly import section 1256 transactions. 

     

    you don't have to report the details according to IRS instructions - just the "1099-B" in column (a)  and what is on line 11 

     

    see the instructions for line 1

    https://www.irs.gov/pub/irs-pdf/f6781.pdf 

    TurboTax Sign In Widget
    TurboTax flag icon

    Unlock tailored help options in your account

    Create an account
    TurboTax Expert Assist
    TurboTax Expert

    Get answers to all your tax questions

    Our experts are available on-demand, no appointment needed. Get help all year long with TurboTax Expert Assist.

    Terms & ConditionsCookie settingsAccessibility statement
    Intuit
    TurboTax Credit Karma QuickBooks MailChimp

    ©1997-2022 Intuit, Inc. All rights reserved.
    Intuit, QuickBooks, QB, TurboTax, ProConnect, and Mint are registered trademarks
    of Intuit Inc. Terms and conditions, features, support, pricing, and service options
    subject to change without notice.

    Security Certification of the TurboTax Online application has been performed by
    C-Level Security.

    By accessing and using this page you agree to the Terms of Use.

    Accessibility

    TRUSTe nResult Certified e-File C-Level Security Certification