Trading Futures & Other Section 1256 Contracts Has Tax Advantages

15 May

May 15, 2019 at 12:00 pm EST


Recording

Presentation Slides

Join Robert A. Green, CPA, of GreenTraderTax as he explains the tax benefits of trading futures, broad-based indexes, and other Section 1256 contracts.

  • 60/40 capital gains rates are 4.2% to 12% lower vs. ordinary rates.
  • List of 1256 contracts.
  • Mark-to-market accounting includes unrealized gains and losses, which negates the need for wash sale loss adjustments.
  • Easy tax reporting: Forms 1099-B and 6781.
  • Election to carry back Section 1256 losses against 1256 gains in prior three years.
  • Election for Section 475 ordinary gain or loss treatment (requires qualification for trader tax status).

Webinar hosted and recording produced by Interactive Brokers. Everyone is welcome; you don’t have to be a client of IB.

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Testimonials

For 25+ years prior to 2013 I used TurboTax to do my own tax returns. When I started trading options as my primary source of income, however, I attended a presentation by Bob Green at Traders Expo and realized that there were significant advantages to trading within an LLC/partnership legal entity. I also realized that this made my tax return situation more complicated, so I started with GreenNFH for the tax year 2013 since they specialize in tax returns for active traders. Since I live in California, all my interacting with the staff has been through email, and the easy-to-use secure file upload/download facility they use. I have found the entire process to be very efficient and the fees to be quite reasonable. I recommend GreenNFH to other traders whenever the topics of trading entities and tax returns come up.

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