Most options and futures traders will need to become familiar with IRS Form 6781 as they complete their taxes each year. Form 6781: Gains and Losses From Section 1256 Contracts and Straddles is a tax form distributed by the Internal Revenue Service (IRS) and used to report gains and losses from straddles or financial contracts. For reported investments, 40% of the gain or loss is reported as short-term, and the remaining 60% reported as long-term.
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