Running a gain and loss report for section 1256 contracts

 

A. Click Reports, Gains & Losses; Tax forms

 

   

 

B. Under REPORT TYPE, click Gains & Losses. Under TRADES, click Futures.

 

   

 

C. After running the report you will notice the Report Column Totals section at the bottom of the TradeLog screen. The figure you need is circled below in red.

 

   

 

D. With this Gains and Losses figure look to IRS form 6781 and the instructions provided. The IRS will tell you what to do with this total on the form.

 

Also with MTM you may run the Securities MTM report to provide details needed for section 3 of form 6781

 

Please refer here for the official 6781 form: http://www.irs.gov/pub/irs-pdf/f6781.pdf

 

Note: TradeLog does contain an automatic function to be able to directly upload your Futures trading total. You will need to follow the few simple steps provided above and by the IRS.