Trader taxes service: Advice please:

Can any one advise which IRS document define 60/40 tax rules for future trading? Any URL link to such document? or document ID or title?

I do understand 40/60 rule is true for future trading, but I do really need to locate the IRS document explains how that work in detail. Please help me if you know the IRS document number or post the URL for such document. Thanks in advance.....
 
Form 6781.

If you are profitable, either buy Robert Green's book, or employ his services. His firm specializes in tax services for traders. His book is more futures oriented than Ted Tesser's.

"The Tax Guide for Traders" by R. Green.

www.greencompany.com

Quote from dabao91:


Futures are subject to Section 1256 of The IRS code.
Any Gain/Loss is treated as 60 percent long-term and 40 percent short-term capital gains. Also known as (the "60/40" rule).
You need only report the net result at the end of the year as reported by your 1099 from your broker.

What is your question?


Can any one advise which IRS document define 60/40 tax rules for future trading? Any URL link to such document? or document ID or title?

Thanks.
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