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Reporting Gains/Losses for Section 1256 Contracts

 
Running a gain and loss report for section 1256 contracts can only be completed at year end in TradeLog MTM.
 
Please note that all tax year reporting will show a DRAFT watermark until you have completed the End Tax Year process on the TradeLog file. Final tax reporting should always be generated once the End Tax Year process has been completed.
 
  • For final tax reporting the report should be run by selecting the All Accounts Tab in a multi-account data file.


     
  • Click Reports, Section 1256 Contracts.


     
  • If necessary, adjust date range and opt to show SSN/EIN. Click Run Report


     
  • The last page of the report will display the totals needed for completing IRS Form 6781.


     
 
Also with TradeLog 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 into tax software. You will need to follow IRS instructions for completing Form 6781.