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CoinCatch Crypto Futures Contract

HOPE2
Level 9

Hi to every one,

Just as I was getting ready to wrap things up for the end of the season, an old client sent me 175 pages of their crypto activity from CoinCatchpage 175.jpgCoinCatch 174.jpg. This screenshots are from the last two pages.

This platform does not connect to CoinTracker or Koinly, and the transactions are of the Futures type.

the loss is $28727.61. 

So I’m confused—can I file under Form 1256 or not?
And do I need to attach all 175 pages to the tax return? That would be problematic.

I need your guidance.

 

0 Cheers
1 Comment 1
dascpa
Level 12

Before your post I had never heard of crypto futures. A quick Google search shows your theory is correct.  It is reported on Form 6781 as a 1256 Contract and Straddles with the software doing the 60/40 split.  Another investment I will personally avoid for myself.