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Search: Posts Made By: LightWeight
Forum: Traders Hideout April 9th, 2014, 06:58 PM
Replies: 11
Views: 6,273
Posted By LightWeight
Okay....so I went to TaxAct online and completed...

Okay....so I went to TaxAct online and completed the same process, and they came out with the same total, within $100 (for both my 1099 contract job and my 1256 trading), which convinced me it must...
Forum: Traders Hideout April 9th, 2014, 05:46 PM
Replies: 11
Views: 6,273
Posted By LightWeight
Yeah I see that part in form 6781, where it says...

Yeah I see that part in form 6781, where it says to multiply your total by .40 and .60 to divide it up...but then I don't see what I'm supposed to do with that info, or how to determine the tax...
Forum: Traders Hideout April 9th, 2014, 05:19 PM
Replies: 11
Views: 6,273
Posted By LightWeight
Well that's my concern, I know they have a big...

Well that's my concern, I know they have a big advantage but this seems too big....my effective tax rate on my futures profits is 12.43%, which is even lower than the long term capital gains rate, so...
Forum: Traders Hideout April 9th, 2014, 04:55 PM
Replies: 11
Views: 6,273
Posted By LightWeight
Tax question

Hey gang,

This is my first year filing taxes after trading futures, so I wasn't sure what to expect, but my effective tax rate seems ridiculously low. I'm filing online using TurboTax, and as far...
Showing results 1 to 4 of 4

What unexpected challenges have you encountered while trading on a "Funded Trader" platform?

 


 
 


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