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RE: hurray tax time



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The breakdown is 60%-40% long-term to short-term capital gains.  You get the
information from your broker on a form 1099, you report it under sec 1256
trades on your schedule D and it flows to page 1 of your form 1040 under
schedule D transactions.

The net gain goes here, but the net loss is limited to the first $3,000.00.

Perry

Futures on Stocks Central
H. Perry Dahm, CPA, CTA
mailto:hpdahm@xxxxxxxxxxxxx
300 Esplanade Drive, 9th Floor
Oxnard, CA 93030
805-981-3928
800-350-8744

-----Original Message-----
From: davidmoy888@xxxxxxxx [mailto:davidmoy888@xxxxxxxx]
Sent: Thursday, January 10, 2002 7:41 PM
To: omega-list@xxxxxxxxxx; pdahm@xxxxxxxxxxxxx
Subject: hurray tax time

Perry,
I have a question regarding futures.  I understand that profits and
losses from futures trading is taxed at a rate between long term and
short term capital gains/losses.  You state that the net on futures
trading for the year is reported on Schedule D.  What happens after that?


David Moy