Tax Question

[white_zombie]

Hi,

I have a question on futures taxation, can one offset futures contracts gains(in the 60/40 manner) against capital loss from securities which has been carried over from the past years ?

Thanks!

-White

 

[Surdo]

Yes you may offset your futures gains vs equities loss carryover.
Use IRS form 6781 for the futures, and then the carryover and the results from form 6781 flow to a schedule D.

http://www.irs.gov/pub/irs-pdf/f6781.pdf

el surdo

 

[cashmoney69]

what is the tax on capital gains?... I know its high.

 

[Surdo]

Quote from cashmoney69:

what is the tax on capital gains?... I know its high.

I guess you never had one!

el surdo