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How to Report Losses on S&P Options and Futures Trading

 

Be sure to join Tracy Byrnes and her guest Ted Tesser for a chat about traders' tax issues on Yahoo! They'll be chatting March 22 at 5 p.m. ET. Register for Yahoo! Chat at: chat.yahoo.com. It's free!


I am filing as a trader for the first time this April. I intend to elect to mark to market my trades at this point. I only trade S&P futures and OEX options. My first year, I made typical mistakes and have losses in excess of $3,000. If by year-end I have gains, can some of those gains be offset by last year's losses?

-- Cleavis Lyons

Cleavis, ...

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