Unusual (for me) 1099-B

[David]

TP received a 1099-B that looks more like a 1099-MISC format. It isn't the normal broker 1099-B statement.

The payer is IKON Global Markets Inc and shows the following:

Box 7 Description- RFC

Box 8 Profit or (loss) realized in 2008- $(2,964)

Box 9 Unrealized profit or (loss) on open contracts- 12/31/07- $133

Box 11 Aggregate profit or (loss)- $(2,831)

How, what (which boxes) and where is this information entered?

Thanks for your help.

[JRS]

Ikon is a futures, currency metals commodity broker. It looks like there was a mark to market calculation at year end. I would have the client (or you) go online to their "live chat" and have someone explain the "1099-B" I have dealt with commodity and currency futures but, never seen anything like you describe.

[NECPA in NEBRASKA]

You are going to need a form 6781. If I remember right, you should be able to figure it out be following the instructions. I do one once a year and pretty much have to read them every year, because I forget. IF you need more help, post later or E-mail me and I'll try to help you.

Bonnie