1099-B tax question for futures trading?
Thursday, July 2nd, 2009 at
11:58 pm
I trade up to 20 times times a month on future currencies. I received a 1099-B from the brokerage with total gains/losses no other details. Do I need to list out each trade on my taxes? This could be a nightmare or do i just report the total loss or gain on the 1099-B
Filed under: Natural Gas Futures
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You have a couple of options. You can report everything on one line (of course one line for fore each type of gain ie.LT v ST) and say see attached statement.
Another option is to report on one line and say detail too voluminous and available upon request. This option is more likely to get you audited.