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Futures fall under the category of "Section 1256 contracts", and are reported on a Form 6781. This form is easily prepared by your tax accountant by transcribing information provided by your broker.
For this reason, we do not offer any services related to Commodities, as no reconciliation is required.
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Commodities Trader:
A person who is actively engaged in trading section 1256 contracts and is registered with a domestic board of trade designated as a contract market by the Commodities Futures Trading Commission.
Commodity Future:
A contract made on a commodity exchange, calling for the sale or purchase of a fixed amount of a commodity at a future date for a fixed price.
Futures Contract:
An exchange-traded contract to buy or sell a specified commodity or financial instrument at a specified price at a specified future date. See also Commodity future.
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