Tax on E-mini profits/loss
#1
Posted 19 June 2007 - 03:32 PM
#2
Posted 19 June 2007 - 03:37 PM
#3
Posted 19 June 2007 - 03:50 PM
#4
Posted 19 June 2007 - 05:22 PM
Remember this day, men, for it will be yours for all time.
#5
Posted 19 June 2007 - 05:45 PM
#6
Posted 19 June 2007 - 06:06 PM
60% of number is short term gain. 40% is long term gain.
Nope. The split is 60% long-term, 40% short-term.
Just in case anyone cares, the general rule on this sort of stuff is that any futures contract based on an index containing 10 or more securities gets Section 1256 treatment (60% LTCG/40% STCG). Futures on "narrow-based" indexes (9 or fewer securities) and single stock futures are treated as if they were securities (requiring a one year holding period for 100% LTGC,) not Section 1256 futures.
#7
Posted 19 June 2007 - 06:26 PM
#8
Posted 19 June 2007 - 06:27 PM
60% of number is short term gain. 40% is long term gain.
Nope. The split is 60% long-term, 40% short-term.
Just in case anyone cares, the general rule on this sort of stuff is that any futures contract based on an index containing 10 or more securities gets Section 1256 treatment (60% LTCG/40% STCG). Futures on "narrow-based" indexes (9 or fewer securities) and single stock futures are treated as if they were securities (requiring a one year holding period for 100% LTGC,) not Section 1256 futures.
Do you get the same tax treatment (60/40), whether the trades are on the short side or long?
It's the illiquidity, stupid !
#9
Posted 19 June 2007 - 06:36 PM
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#10
Posted 19 June 2007 - 07:01 PM
Do you get the same tax treatment (60/40), whether the trades are on the short side or long?
Makes no difference. See 26 USC 1256.
"Securities futures contracts" are defined in 26 USC 1234B.