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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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No. of Recommendations: 6
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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