Form 6781 – Section 1256 Contracts and Straddles – Futures Contracts
For futures contracts, the Form 1099-B that you receive needs to be reported on Part I of Form 6781, Gains and Losses From Section 1256 Contracts and Straddles. You cannot import this type of transaction into the TaxAct program; you need to manually enter it.
To access Form 6781 in the TaxAct program, follow the steps below.
Online
Dashboard
- From within your TaxAct return, click Income.
- On smaller devices, click the menu at the top left corner of your screen, then make your selection.
- Click the Explore More drop-down.
- Click Add beside Contracts & Straddles.
- Complete the rest of the interview process.
Classic
- From within your TaxAct return, click Federal.
- On smaller devices, click the menu at the top left corner of your screen, then make your selection.
- Click the Investment Income drop-down, then click the Gain or loss on the sale of investments drop-down, then click Futures or foreign currency contract reporting (Form 6781).
- Complete the rest of the interview process.
Desktop
- From within your TaxAct return, click Federal.
- Click the Investment Income drop-down, then click the Gain or loss on the sale of investments drop-down, then click Futures or foreign currency contract reporting (Form 6781).
- Complete the rest of the interview process.