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February 17, 2024
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Reporting options trades subject to section 1256 reporting

  • February 17, 2024
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I did a bunch (like, 75+) of options trades last year that are listed individually in my 1099-B (from E-Trade).  Each line consists of a description, date acquired, date sold, and profit (loss).  There is no info on gross receipts or purchase price.  The 1099-B also lists in box 8 a summary of profit (loss).   I looked at the TurboTax section on reporting options, but it needs proceeds and basis cost.  How do I report these? I would REALLY prefer to just enter the gross profit.

 

    Best answer by Mike9241

    section 1256 gains and losses are first reported on form 6781 and then the numbers flowautomatically to schedule D

    read 6781 instructions at the bottom of the 6781

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

     

     

    1 reply

    Mike9241Answer
    February 17, 2024

    section 1256 gains and losses are first reported on form 6781 and then the numbers flowautomatically to schedule D

    read 6781 instructions at the bottom of the 6781

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