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Questions tagged [section-1256]

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1answer
61 views

Are options on popular ETF considered section 1256 contracts?

I want to learn about 1256 contracts and am wondering if options on common ETFs (like QQQ, SPY, DIA) (not futures) are considered section 1256, because these ETF tracks broad market but does not ...
2
votes
1answer
159 views

Is there a deadline to respond to an IRS request for additional documentation?

When I sent in my 2014 tax return late last year, I also sent in an amendment to my 2013 tax return due to a Section 1256 contract loss carryback (I had Section 1256 gains in 2013 and losses in 2014). ...
20
votes
1answer
905 views

What tax law loophole is Buffet referring to?

In a recent op-ed, Warren Buffet made a claim about investment managers: Others own stock index futures for 10 minutes and have 60 percent of their gain taxed at 15 percent, as if they’d been long-...