Form 1099 B shows a loss from futures trades in boxes 8 and 11. These go on form 6781. When I answer the questions, the amount of loss is showing as zero.

Forum|Forum|6 years ago
June 5, 2019
1 reply
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How do I post net futures losses? Thank you.

TurboTax Premier Online

MichaelDC

Employee

Below are the steps to enter the Regulated Futures Contracts and Options 1099-B information in TurboTax:

Click on the Federal Taxes tab
Select the Wages and Income tab
Select the EXPLORE ON MY OWN option (this may require you to click through one or two other screens beforehand)
Scroll down to the Investment Income subgroup
Next the Contracts and Straddles line, and click the start button
Answer YES that you had Sec. 1256 contracts
Don't make any special elections selections unless they apply to you
On the Contracts and Straddles page, choose the box next to the Sec. 1256 Contracts marked-to-market
Click continue, and from there TurboTax will take you through the necessary questions and answers tree.

bsim2123

Careful, my TT-2017 Premier doesn't allow one to do a Federal Capital Loss Carryover to Sch D if you have a loss in 2016 for1256 contracts Oddly, it allows the carry over loss for my state, so I believe there is an error on the Federal Sch D carryover. Almost efiled before I caught this, so I need TTax to let me know how to correct the 2016 carry over loss omission to 2017 Sch D.