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Section 1256 loss vs check boxes

JML222
Level 4

All - 

A client has a Section 1256 loss of $381, 

I am confused with the 4 check boxes A) Mixed Straddle; B) Straddle by Straddle; C) Mixed Straddle account election D) Net Section 1256 loss election

There are only 2 contract transactions on the same date and they expired. My question, how does one determine the appropriate check box? From what I have read, it appears that D would be correct but I'm not sure.

Thanks!

 

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Accepted Solutions
dascpa
Level 11

I am not a commodities and futures expert but I have a client that is.  I have prepared his and many other returns whereby a 1256 (typically loss) is earned.  I've never had to check any of the four boxes and the 60/40 split has always gone through.] without question.

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1 Comment 1
dascpa
Level 11

I am not a commodities and futures expert but I have a client that is.  I have prepared his and many other returns whereby a 1256 (typically loss) is earned.  I've never had to check any of the four boxes and the 60/40 split has always gone through.] without question.