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March 18, 2025
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My tax return and form 6781

  • March 18, 2025
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On form 6781, I report my profits on stock index options. These profits are both realized and unrealized. Since these options are 1256, I must pay tax on my unrealized gains.

 

Both realized and unrealized gains are included on my lines 8 and 9. However, I am reporting unrealized gains on line 14. These gains are already included on lines 8 and 9. I do not want to report the gain twice. I do not think I am. Am I? As far as I can tell, line 14 on form 6781 is not an input to any other form.

 

My tax return was generated using Turbo Tax.

Best answer by MinhT1

Only lines 8 and 9 of form 6781 are transferred to Schedule D or form 8949.

 

Line 14 is for memo entry only and is not transferred to any line on form 1040.

 

Please see the instructions for form 6781, page 4.

 

 

1 reply

MinhT1Answer
March 18, 2025

Only lines 8 and 9 of form 6781 are transferred to Schedule D or form 8949.

 

Line 14 is for memo entry only and is not transferred to any line on form 1040.

 

Please see the instructions for form 6781, page 4.

 

 

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