Form 6781 - Section 1256 Contracts And Straddles - Futures Contracts

Sign In Tax Filing Online Products Xpert Assist Download Products Self-Employment Taxes Business Taxes Business and Home Bundles Tax-Exempt Organizations Estates and Trusts Previous Year's Products Professional Taxes Tax Tools Tax Calculator Self-Employment Calculator Tax Bracket Calculator W-4 Calculator Tax Checklists Tax Extensions Return Status Check E-file Status Track IRS Refund Blog Support TaxAct for Professionals How can we help? 2025 2024 2023 2022 Popular Topics: Import Options • Refund Status • Amend Return • File Extension Help Center> Form 6781 - Section 1256 Contracts and Straddles - Futures Contracts 1

For futures contracts, the Form 1099-B that you receive needs to be reported on Part I of Form 6781 Gains and Losses From Section 1256 Contracts and Straddles. You cannot import this type of transaction in the TaxAct program; you need to manually enter it.

To access Form 6781 in the TaxAct program:

1. From within your TaxAct return (Online or Desktop), click Federal (on smaller devices, click in the top left corner of your screen, then click Federal).
2. Click the Investment Income dropdown, click the Gain or loss on the sale of investments dropdown, then click Futures or foreign currency contract reporting (Form 6781).
3. Continue with the interview process to enter your information.

Based on the information you enter, the TaxAct program completes the Form 6781 calculations so that 40% of the gain or loss is reported as short-term on Line 8 and 60% of the gain or loss is reported as long-term on Line 9 of the form. The TaxAct program transfers short-term gains and losses to Line 4 of Schedule D (Form 1040), and long-term gains and losses to Line 11.

Note that any link in the information above is updated each year automatically and will take you to the most recent version of the webpage or document at the time it is accessed.

× Your request has been submitted

You have been successfully added to the TaxAct Do Not Sell list.

Error while submitting form

Something went wrong. Please try again later