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Author: MikeSki9117 One star, 50 posts Motley Fool One Everlasting Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121589  
Subject: IRS form 6781 Date: 3/3/2014 8:20 PM
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I trade options and use Gainskeeper. Gainskeeper generates a 6781 for some of the option trades. Can someone clarify for me the purpose of 6781 and what I should do with it in Turbo Tax. Thanks
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Author: irasmilo Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 120341 of 121589
Subject: Re: IRS form 6781 Date: 3/3/2014 10:34 PM
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I trade options and use Gainskeeper. Gainskeeper generates a 6781 for some of the option trades. Can someone clarify for me the purpose of 6781 and what I should do with it in Turbo Tax.

Form 6781 is used to report gains from Section 1256 contracts and straddles. If you don't know what to do with it on your tax return, you shouldn't be using options as part of your investment strategy.

Ira

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