Fillable Form 6781 - Gains And Losses From Section 1256 Contracts And Straddles

Form 6781 (2011)

Page

Column (d)

Line 13a

Paperwork Reduction Act Notice. We

ask for the information on this form to

For positions closed out or sold, enter

Include this amount on Schedule D

carry out the Internal Revenue laws of

the closing price or sales price.

(Form 1040), line 4; or on Schedule D

the United States. You are required to

(Form 1041), line 2; or, for other returns,

Column (e)

give us the information. We need it to

as a short-term capital gain on the

ensure that you are complying with

For positions closed out or sold, enter

Schedule D for your return and enter

these laws and to allow us to figure and

“Form 6781, Part II” in column (a) of that

the cost or other basis plus

collect the right amount of tax.

Schedule D.

commissions paid. Include

You are not required to provide the

nondeductible interest and carrying

Line 13b

information requested on a form that is

charges allocable to personal property

subject to the Paperwork Reduction Act

that is part of a straddle. If any part of

Include this amount on Schedule D

unless the form displays a valid OMB

an unallowed loss from an offsetting

(Form 1040), line 11; or on Schedule D

control number. Books or records

position established in an identified

(Form 1041), line 7; or, for other returns,

relating to a form or its instructions must

straddle after October 21, 2004,

as a long-term capital gain on the

be retained as long as their contents

increased your basis in the position, also

Schedule D for your return and enter

may become material in the

include that amount. See Pub. 550 for

“Form 6781, Part II” in column (a) of that

administration of any Internal Revenue

details.

Schedule D.

law. Generally, tax returns and return

Collectibles gain or (loss). A

Line 10, Column (f)

information are confidential, as required

collectibles gain or (loss) is any

by section 6103.

Include in this column any loss not

long-term gain or deductible long-term

allowed in the prior year to the extent of

The time needed to complete and file

loss from the sale or exchange of a

the unrecognized gain.

this form will vary depending on

collectible that is a capital asset.

individual circumstances. The estimated

Collectibles include works of art, rugs,

Line 10, Column (g)

burden for individual taxpayers filing this

antiques, metals (such as gold, silver,

Enter the unrecognized gain on positions

form is approved under OMB control

and platinum bullion), gems, stamps,

offsetting those in columns (a) through

number 1545-0074 and is included in

coins, alcoholic beverages, and certain

(f). Figure the amount to enter in this

the estimates shown in the instructions

other tangible property.

column by subtracting the cost or other

for their individual income tax return. The

If any of the gain or loss you reported

basis of the offsetting position from the

estimated burden for all other taxpayers

in Part II is a collectibles gain or (loss)

settlement price of that position as of

who file this form is shown below.

and you are filing Form 1040 or Form

the close of the last business day of

Recordkeeping .

10 hr., 31 min.

1041, follow the instructions below for

your 2011 tax year.

the form you file.

Learning about the

Lines 11 and 13

law or the form .

1 hr., 57 min.

Form 1040. If you checked “Yes” on

Separate recognized gains and losses

line 17 of Schedule D (Form 1040),

Preparing the form

. 3 hr., 9 min.

into short-term and long-term. Attach a

include the collectibles gain or (loss)

Copying, assembling,

separate schedule. For information

from Part II on line 3 of the 28% Rate

and sending the form

about holding periods for straddle

Gain Worksheet in the Instructions for

to the IRS .

. 16 min.

positions, see Pub. 550 and Temporary

Schedule D (Form 1040).

Regulations section 1.1092(b)-2T. Attach

If you have comments concerning the

Form 1041. If you must complete the

separate schedules for (a) section 988

accuracy of these time estimates or

28% Rate Gain Worksheet in the

contracts that are part of a mixed

suggestions for making this form

Instructions for Schedule D (Form 1041),

straddle and (b) any gain on the

simpler, we would be happy to hear

include the collectibles gain or (loss)

disposition or other termination of any

from you. See the instructions for the tax

from Part II on line 3 of that worksheet.

position held as part of a conversion

return with which this form is filed.

transaction (as defined in section

Part III

1258(c)). Identify the net gain or loss and

Complete Part III by listing each position

report it on Form 4797, line 10.

(whether or not part of a straddle) that

Line 11a

you held at the end of the tax year

(including any position you are treated

Include this amount on Schedule D

as holding because it is held by a

(Form 1040), line 4; or on Schedule D

related party) if the FMV of the position

(Form 1041), line 2; or, for other returns,

at such time exceeds your cost or other

as a short-term capital loss on the

basis as adjusted.

Schedule D for your return and enter

“Form 6781, Part II” in column (a) of that

Do not include positions that are part

Schedule D.

of an identified straddle or hedging

transaction, property that is stock in

Line 11b

trade or inventory, or property subject to

Include this amount on Schedule D

depreciation used in a trade or business.

(Form 1040), line 11; or on Schedule D

Do not complete Part III if you do not

(Form 1041), line 7; or, for other returns,

have a recognized loss on any position

as a long-term capital loss on the

(including regulated futures contracts).

Schedule D for your return and enter

“Form 6781, Part II” in column (a) of that

Schedule D.

Form 6781 - Gains And Losses From Section 1256 Contracts And Straddles - 2011 Page 4

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