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Entering Form 1099-B Box 11 Aggregate profit on contracts

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Entering Form 1099-B Box 11 Aggregate profit on contracts

To enter Form 1099-B, box 11, Aggregate profit (or loss) on contracts:
  1. Go to the Input Return tab.
  2. On the left-side menu, select Income.
  3. Click on the Schedule D/4797/etc. screen.
  4. Locate the transaction in the Quick Entry grid.
  5. Click the Details button.
  6. On the left-side menu, select Contracts and Straddles (6781).
  7. Enter a 1 or 2 in 1=1256 contracts, 2=straddles, 3=memo only (triggers 6781).
  8. Enter the amount from box 11 in Section 1256 contracts gain (loss).
The amount will flow to Form 6781 to be included on Schedule D and reported on the return as a capital gain or loss.
 

Related Topics

1099-B Proceeds From Broker and Barter Exchange Transaction
Entering Broker Information for 1099-B Transactions
Where do I enter amounts from Form 1098 and 1099?

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