Form 6781 - Gains And Losses From Section 1256 - Contracts And Straddles - 2013 Page 3
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Form 6781 (2013)
Page
Line 4
Line 9
• The gain, if any, reported on line 16 of
Schedule D (Form 1040) for that
If the Form 1099-B you received
Include this amount on Schedule D
carryback year.
includes a straddle or hedging
(Form 1040), line 11; or on Schedule D
The amounts just described are
transaction (as defined in section
(Form 1041), line 11.
figured prior to any carryback from the
1256(e)(2)), you may need to make
For other returns, enter it in Part II of a
loss year. Also, the carryback is allowed
certain adjustments listed next. Attach a
Form 8949 with Box E checked (if you
only to the extent it does not increase or
statement listing each of these
received a Form 1099-B or substitute
produce a net operating loss for the
adjustments and enter the total(s) on
statement for every transaction included
carryback year. The loss is carried to the
line 4.
on line 1) or Box F checked (if you
earliest year first.
• The regulated futures part of a mixed
cannot check Box E). Enter “Form 6781,
Make the election by checking box D
straddle, if you made any of the mixed
Part I” on line 1 in column (a). Enter the
and entering the amount to be carried
straddle elections.
gain or (loss) in column (h). Leave all
back on line 6. To carry your loss back,
other columns blank.
• The amount of the loss, if you did not
file Form 1045, Application for Tentative
make any of the mixed straddle
Part II
Refund, or an amended return. Attach an
elections or the straddle was not
amended Form 6781 and an amended
Use Section A for losses from positions
identified as a mixed straddle and you
Schedule D (Form 1040) for the
that are part of a straddle. Generally, a
had a loss on the regulated futures part
applicable years.
loss is allowed to the extent it exceeds
that was less than the unrecognized gain
on the nonregulated futures part. If the
the unrecognized gain on offsetting
On the amended Forms 6781 for the
positions. The part of the loss not
unrecognized gain is less than the loss,
years to which the loss is carried back,
allowed is treated as if incurred in the
enter the unrecognized gain. Use Part I
report the carryback on line 1 of that
following year and is allowed to the
for a loss on the disposition of one or
year’s amended Form 6781. Enter “Net
same extent. However, a loss from a
more positions that are part of a mixed
section 1256 contracts loss carried back
straddle and that are non-section 1256
position established in an identified
from” and the tax year in column (a), and
straddle after October 21, 2004, is not
positions if no disposition of a non-
enter the amount of the loss carried
allowed. Instead, the basis of each
section 1256 position in the straddle
back in column (b).
offsetting position in the identified
would be a long-term capital gain or
Specific Instructions
straddle that has unrecognized gain is
loss, and the disposition of one or more
section 1256 positions in the straddle
increased by the amount of the
unallowed loss multiplied by the
would be a capital gain or loss.
Part I
following fraction:
• The regulated futures part of a hedging
Line 1
The unrecognized gain (if any) on the
transaction. The gain or loss on a
offsetting position
hedging transaction is treated as
Include on line 1 all gains and losses
ordinary income or loss. See Pub. 550
from section 1256 contracts open at the
The total unrecognized gain on all positions
for details.
end of your tax year or closed out during
that offset the loss position in the identified
the year. If you received a Form 1099-B,
straddle.
Line 5
Proceeds From Broker and Barter
For more details, see Pub. 550,
Partnerships enter the amount from line
Exchange Transactions, or substitute
chapter 4.
5 on Form 1065, Schedule K, line 11.
statement, include on line 1 the amount
Electing large partnerships enter the
Use Section B for gains from positions
from box 12 of each form. In column (a),
amount from line 5 on Form 1065-B, Part
that are part of a straddle.
write “Form 1099-B” and the broker’s
II, line 5. S corporations enter the
name. List separately each transaction
Do not include in Part II a disposition
amount from line 5 on Form 1120S,
for which you did not receive a Form
of any of the following.
Schedule K, line 10. Lines 6 through 9 in
1099-B or substitute statement, or
• A position that is part of a hedging
Part I of Form 6781 do not apply to
received a Form 1099-B that is not for
transaction.
partnerships or S corporations and are
your tax year.
left blank.
• A loss position included in an identified
If you are completing an amended
straddle established before October 22,
Line 6
2013 Form 6781 to carry back a net
2004, unless you disposed of all of the
section 1256 contracts loss from 2014 or
See the instructions for box D.
positions making up the straddle.
a later year, report the carryback on line
Line 8
1. Enter “Net section 1256 contracts loss
• A loss position included in an identified
carried back from” and the tax year in
straddle established after October 21,
Include this amount on Schedule D
column (a), and enter the amount of the
2004.
(Form 1040), line 4; or on Schedule D
loss carried back to 2013 in column (b).
(Form 1041), line 4.
• A position that is part of a straddle if all
See the instructions for box D for
of the positions of the straddle are
For other returns, enter it in Part I of a
details.
section 1256 contracts.
Form 8949 with Box B checked (if you
received a Form 1099-B or substitute
Column (a)
statement for every transaction included
Enter the property and delivery date,
on line 1) or Box C checked (if you
and indicate whether the property is a
cannot check Box B). Enter “Form 6781,
long or short position.
Part I” on line 1 in column (a). Enter the
gain or (loss) in column (h). Leave all
Column (d)
other columns blank.
For positions closed out or sold, enter
the closing price or sales price.
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