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nickscalero asked:

How do I account for Option Contract trades for Tax purposes?

I had a number of options trades (calls and puts) last year resulting in a small loss. My broker sent me a “2006 Supplemental Tax Info – Non-Reportable” form so none of this activity shows up on a 1099-B. TurboTax has a form 6781 that is called “Section1256 Contracts and Straddles” but there are no examples that I can find on how to fill it out.

Is form 6781 the correct form or should I use schedule D?
Are there any examples available?

Thanks in advance.

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