Form 6781 - Gains And Losses From Section 1256 Contracts And Straddles - 2012 Page 4
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44
Form 6781 (2012)
Page
Line 10, Column (f)
Line 13a
Do not include positions that are part
of an identified straddle or hedging
Include in this column any loss not
Include this amount on Schedule D
transaction, property that is stock in
allowed in the prior year to the extent of
(Form 1040), line 4; or on Schedule D
trade or inventory, or property subject to
the unrecognized gain.
(Form 1041), line 2.
depreciation used in a trade or business.
Line 10, Column (g)
For other returns, enter it in Part I of a
Do not complete Part III if you do not
Form 8949 with Box C checked. Enter
have a recognized loss on any position
Enter the unrecognized gain on positions
“Form 6781, Part II” on line 1 in column
(including regulated futures contracts).
offsetting those in columns (a) through
(a). Enter the gain in column (h). Leave all
(f). Figure the amount to enter in this
Paperwork Reduction Act Notice. We
other columns blank.
column by subtracting the cost or other
ask for the information on this form to
basis of the offsetting position from the
Line 13b
carry out the Internal Revenue laws of
settlement price of that position as of
the United States. You are required to
Include this amount on Schedule D
the close of the last business day of
give us the information. We need it to
(Form 1040), line 11; or on Schedule D
your 2012 tax year.
ensure that you are complying with
(Form 1041), line 7.
Lines 11 and 13
these laws and to allow us to figure and
For other returns, enter it in Part II of a
collect the right amount of tax.
Separate recognized gains and losses
Form 8949 with Box C checked. Enter
into short-term and long-term. Attach a
“Form 6781, Part II” on line 3 in column
You are not required to provide the
separate statement for each. For
(a). Enter the gain in column (h). Leave all
information requested on a form that is
information about holding periods for
other columns blank.
subject to the Paperwork Reduction Act
straddle positions, see Pub. 550 and
unless the form displays a valid OMB
Collectibles gain or (loss). A
Temporary Regulations section
control number. Books or records
collectibles gain or (loss) is any
1.1092(b)-2T. Attach separate
relating to a form or its instructions must
long-term gain or deductible long-term
statements for (a) section 988 contracts
be retained as long as their contents
loss from the sale or exchange of a
that are part of a mixed straddle and (b)
may become material in the
collectible that is a capital asset.
any gain on the disposition or other
administration of any Internal Revenue
Collectibles include works of art, rugs,
termination of any position held as part
law. Generally, tax returns and return
antiques, metals (such as gold, silver,
of a conversion transaction (as defined in
information are confidential, as required
and platinum bullion), gems, stamps,
section 1258(c)). Identify the net gain or
by section 6103.
coins, alcoholic beverages, and certain
loss and report it on Form 4797, line 10.
other tangible property.
The time needed to complete and file
Line 11a
this form will vary depending on
If any of the gain or loss you reported
individual circumstances. The estimated
in Part II is a collectibles gain or (loss)
Include this amount on Schedule D
burden for individual taxpayers filing this
and you are filing Form 1040 or Form
(Form 1040), line 4; or on Schedule D
form is approved under OMB control
1041, follow the instructions below for
(Form 1041), line 2.
number 1545-0074 and is included in
the form you file.
the estimates shown in the instructions
For other returns, enter it in Part I of a
Form 1040. If you checked “Yes” on
for their individual income tax return. The
Form 8949 with Box C checked. Enter
line 17 of Schedule D (Form 1040),
estimated burden for all other taxpayers
“Form 6781, Part II” on line 1 in column
include the collectibles gain or (loss)
who file this form is shown below.
(a). Enter the (loss) as a negative number
from Part II on line 3 of the 28% Rate
(in parentheses) in column (h). Leave all
Recordkeeping .
.
.
10 hr., 31 min.
Gain Worksheet in the Instructions for
other columns blank.
Schedule D (Form 1040).
Learning about the
Line 11b
law or the form .
.
.
1 hr., 57 min.
Form 1041. If you must complete the
28% Rate Gain Worksheet in the
Include this amount on Schedule D
Preparing the form
.
. 3 hr., 9 min.
Instructions for Schedule D (Form 1041),
(Form 1040), line 11; or on Schedule D
Copying, assembling,
include the collectibles gain or (loss)
(Form 1041), line 7.
and sending the form
from Part II on line 3 of that worksheet.
For other returns, enter it in Part II of a
to the IRS .
.
.
.
.
.
.
. 16 min.
Form 8949 with Box C checked. Enter
Part III
If you have comments concerning the
“Form 6781, Part II” on line 3 in column
accuracy of these time estimates or
Complete Part III by listing each position
(a). Enter the (loss) as a negative number
suggestions for making this form
(whether or not part of a straddle) that
(in parentheses) in column (h). Leave all
simpler, we would be happy to hear
you held at the end of the tax year
other columns blank.
from you. See the instructions for the tax
(including any position you are treated
return with which this form is filed.
as holding because it is held by a
related party) if the FMV of the position
at such time exceeds your cost or other
basis as adjusted.
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