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Davidbike2
May 15, 2025
Question

Do I report taxes as a 1099 B or section 1256 contracts and straddles for Coinexx Ltd, which is a foreign trading platform using metatrader 4 or 5 does futures contracts

  • May 15, 2025
  • 1 reply
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1 reply

K
KristinaK
May 20, 2025

My understanding is that most trades on Coinexx Ltd. do not qualify as Section 1256 contracts. To qualify for Section 1256, they need to be traded on a qualified US or foreign board of trade. 

 

You will need to report these transactions in TurboTax as capital gain/loss. Here is an article that should help you enter the information. 

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