Question

As a futures day trader using mark to mkt accting, can I still benefit from the long term cap gains rate in my non-day trading (long-term passive) account?

Forum|Forum|5 years ago
April 13, 2021
1 reply
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TurboTax Self Employed Online

Yes, the trades that you have made in your 'investor' account will be reported on Schedule D and Form 8949, subject to tax treatment for capital gains and losses.

You must have kept records showing which securities are part of your 'investor' account showing that they are not part of your trading business. Keeping separate brokerage accounts for both activities should substantiate this.

To learn more, see the following IRS Tax Topic: Topic No. 429 Traders in Securities

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