How are futures trades reported on your tax return? Is it done on Schedule D or another form?
As an example, bought 1 ES for 1000 and sell it for 1100. Total profit is $5000 (100 point difference x $50/point). Are the proceeds from the sale just the $5000 (ignoring commissions) or do you report gross proceeds of $55,000 like on a stock trade?
As an example, bought 1 ES for 1000 and sell it for 1100. Total profit is $5000 (100 point difference x $50/point). Are the proceeds from the sale just the $5000 (ignoring commissions) or do you report gross proceeds of $55,000 like on a stock trade?