Search results

Okay , the CPA got an answer back to me .. From what I understand.. If you have an open futures position in 2010 than you can file form 6781 and chose marked to market and recieve the 60/40 treatment. However, if you have closed futures positions in 2010 than you have to of made the...

I need to educate myself more.. My CPA may not know, but either do I.. I just contacted a firm that specializes in futures trading.. If I can get the 60/40 treatmeant on my futures trades, I hope I have enough time..

Well, I passed information to my CPA about the form 6781. He said that since all my futures contract positions were closed out before year end that I can't use the form. Only way is if I carried an open position over to the new year. He checked with his association that he belongs to as...

I actually have no idea.. I just see them punch in numbers into a program ..

Will than the capital gains be taxed at 60/40? I'm afraid that even with the form they may still not tax me correctly. Hopefully , the turbotax they use will pick it up .. Thanks for the information.. I appreciate your time for the insight.. I'm heading to the CPA office tomorrow...

I see that they put my futures trading on a schedule d under short -term capital gains and losses.. The only other form I see is form 6251 not a 6781? Should it of been on a 6781? Therefore, would the gains be 60% taxed at long term and 40% taxed as short term? If this is done...

Glad you all so far are enjoying this thread.. I have hired a cpa and they didn't mention about 60/40.. Thanks for caring, but I know this isn't the last place to go for tax advice. I'm not sure why people would .. But I'm sure there are people who know their stuff here from doing...

Is it too late to qualify for 60/40 taxes for last years trades? If so, what are the requirements?

Oh yes, I definitely agree with you. This forum shouldn't be the final stop for questions and answers. You did make a good point about the tax treaties. Although, places like Hong Kong or Switzerland has no capital gains tax, it may only pertain to corporations not individuals trading...

Let's dream here with the most perfect senerio.. You make 200k a yr .. So you buy a house in Alaska, where there is no capital gains tax.. Have a house with family in Illinois .. (otherwise you'd live in Alaska!ha) And each yr you profit an extra 60k which pay for the house in a...

how are you suppose to profit when you get taxed 30% from state and federal combined.. that's not including the comis and fees you pay the brokers.. Make a $1000.00 you automatically lose $300.00 to taxes and than whatever your comis and fees are.. On top of that they combine your...

sorry if this is a repost, but I didn't see this question in the threads.. if I use a broker in Illinois , but live outside of the country, which capital gains tax do I pay? Illinois or outside country? also, am I correct to believe that with state and federal capital gains tax in...

yes spreads ...light sweet vs. brent crude through ice

well, it's been a year almost and I wanted to keep this thread live.. volitility has been extreme these last few days.. Very difficult to get a good read on the market.. . Just shaving off on the size ... Also, what are people paying per contract? I'm paying $7.3 per round turn...

I would be interested in looking at links that you suggested about sharing? I look at no news at all other than the price of oil.. Maybe it would help to know if one will be more volatile than the other But to me it's just noise and makes it difficult to trade off of..

After about 10 weeks of testing and tweeking my strategy, I have remain profitable. Other than a few mistakes of days not to trade this spread ie before and after the contract rollover or on days of the Oil inventory number, I still have hopes of consistency .. I got careless the past 2 days...

Day4night, you seem to have a lot of experience and I can tell by your knowledge that you are quite successful .. it can be intimidating to think that your taking the other side of the trade! well, the trading strategy is quite simple. I trade off of prices more than anything.. Big...

day4night, went live today.. thanks for your advice.. Now I just have to see the statements and find out what the comis and fees are !

day4night, I got an account set up with Dorman .. They do offer the WTI/Brent spread .. I'm waiting for them to set up a platform for me? Not Sure why they have to set it up, but I guess it takes a day after the wire is in..

Yes definitely the spreads are way less volatile than the crude alone. Enough liquidity to get some action though.. Your right the big orders lately that come into the WTI moves the spread really quick ..