Ashe
04-03-2004, 12:41 PM
Mark-to-Market- each contract held at year-end is treated as if it was sold at fair market value.
Its been a while, but I remembered a question about the tax implications of actively trading futures/options contracts. There is an election you can take under section 1265 by filing tax form 6781 with your 1040 where you can automatically treat 60% of your trades as long term and 40% as short. All contracts are mark-to-market @ year-end, and wash sales rules do not apply. Not sure if this helps anyone, but I thought I would throw it out there.
/images/graemlins/smirk.gif
Its been a while, but I remembered a question about the tax implications of actively trading futures/options contracts. There is an election you can take under section 1265 by filing tax form 6781 with your 1040 where you can automatically treat 60% of your trades as long term and 40% as short. All contracts are mark-to-market @ year-end, and wash sales rules do not apply. Not sure if this helps anyone, but I thought I would throw it out there.
/images/graemlins/smirk.gif