IB 1099 question

S

SideShowBob

Before I try to figure it out, does anyone know if the IB 1099 for futures includes trades on foreign exchanges or if it only includes US trades? For example would FTSE 100 or DAX gains/losses be included?
 
1099 B provided by IB does not have any gains or losses in it. again-if you talking about 1099-B-it will show your total proceeds and that's about it.

btw-there is about 20 different 1099's.which one you are referring to?
 
Referring to the 1099-B box 8 Profit or (loss) realized in
2009.

I went through a whole process of trying to get my 1099 from Tradestation futures for my tradestation "pit" account (traded through the RJO platform) and eventually they realized all my trades were non-US trades (mostly LIFFE) so I wasn't supposed to get a 1099. That has me wondering if IB excludes non-US futures trades.
 
From IB's help page:

Box 4 is the amount of federal income tax withheld from the sale. IB does not report amounts for Box 8, 9 and 10. Box 11 is the aggregate profit or loss of lines 8, 9 and 10 on regulated futures contracts (and options on futures contracts) for the year. Refer to Form 6781 and Instructions for guidance on how to report this amount.

Single stock futures are not considered to be regulated futures contracts and thus transactions involving these types of financial instruments are not reported.
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I got a number in Box 8 so that's obviously incorrect. Although it was the same as in Box 11. No clue whether this means it will include foreign contracts or not.
 
well..you can try to compare Sch D procceds and 1099B. you should be able to see, if they are reported or not on 1099. i would call IB and ask them about it on top of that.i trade US stocks and on my 1099B i only got gross proceeds in box 2. that's it.
 
I only had futures trades, so no Sch D. Will chat with them later, but will also figure it out for myself as I do not trust their CSRs either....will post what I find out.
 
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