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Conference nyoss1::market_investing

Title:Market Investing
Moderator:2155::michaud
Created:Thu Jan 23 1992
Last Modified:Thu Jun 05 1997
Last Successful Update:Fri Jun 06 1997
Number of topics:1060
Total number of notes:10477

714.0. "Tax Question regarding Futures Trading." by NODEX::DOBES () Fri Apr 15 1994 09:50

    Oh boy. April 15th, and I have tax questions.....
    Does anyone have any idea what one does with profits and/or losses
    from futures trading?
    
    I have no idea if I should be using the standard Schedule D form. And if
    so, do I have to write down every single trade that happened in a given
    year.  This would be very cumbersome!
    
    	Thanks in advance.
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714.1don't ask HillaryPOTDAM::POTTERFri Apr 15 1994 11:086
    I don't knwo where you can get the answer but don't expect to get one
    from Bill and Hillary.
    
    -John
    
    ps. sorry couldn't resist
714.2This belongs in the `General tax questions' streamVMSDEV::HALLYBFish have no concept of fireFri Apr 15 1994 11:528
    NO, you don't use Schedule D.
    
    You file form 6781, profit and loss from regulated futures trades.
    
    Fortunately you don't need to list every trade, just net P&L for
    the year.
    
      John
714.3options treated same as futures?SCHOOL::DESAIFri Apr 15 1994 12:587
    What about options? WHich form does one need to fill out? Do they
    need details of each transaction? Are expired options treated
    differently than ones which you closed positions on?
    
    thanks,
    
    - Rajesh_who_filed_for_an_extension
714.4Schedule DKOALA::BOUCHARDThe enemy is wiseFri Apr 15 1994 14:122
    Equity options are reported on Schedule D.  For an expired option just
    write "expired" as the 'purchase' date.
714.5Just to make it confusingVMSDEV::HALLYBFish have no concept of fireFri Apr 15 1994 17:071
    Futures options go on form 6781, just like futures contracts.