What to give your accountant and what they need to know about futures trading.
To work effectively with your tax preparer on Slay Markets futures trading, bring two documents and give one short briefing. Bring your Slay Markets 1099-B (available in your Account Dashboard by February 15) and your year-end account statement. Then tell your preparer that Slay Markets futures are Section 1256 contracts that receive 60/40 tax treatment, that gains and losses are reported on IRS Form 6781 using Box 11 of the 1099-B, and that the year-end mark-to-market adjustment is already calculated on the 1099-B. Many general tax preparers are not familiar with futures-specific tax rules, so this briefing saves time and reduces errors.
This article contains general guidance to help you work more effectively with your tax preparer. It is not tax advice. Consult a qualified tax professional for advice specific to your situation.
What documents do I bring to my tax preparer for Slay Markets futures?
For Slay Markets futures taxes, bring two documents to your tax appointment: your 1099-B and your year-end account statement. Your Slay Markets 1099-B is the primary tax document for your futures trading and is available in your Account Dashboard by February 15. Your year-end account statement shows all trades, fees, deposits, and withdrawals and is useful for reconciling the 1099-B. If Slay Markets issued a corrected 1099-B, bring that too. The documents to bring your tax preparer are:
1099-B — the primary tax document for your Slay Markets futures trading. Available in your Account Dashboard by February 15.
Year-end account statement — shows all trades, fees, deposits, and withdrawals. Useful for reconciling the 1099-B.
Any corrected 1099-B, if Slay Markets issued one.
To download your 1099-B, log in to your Slay Markets Account Dashboard, click the user icon in the upper-right corner and select Statements, open Statements & Reports, select your account, and choose report type 1099 Tax Documents. Your year-end account statement is available in the same Statements & Reports section. Save local copies before your tax appointment. For full details on accessing and reading your forms, see Your 1099-B and Tax Documents.
When is my Slay Markets 1099-B available?
Your Slay Markets 1099-B is available in your Account Dashboard by February 15, the IRS broker delivery deadline — for delivery details, corrected forms, and what to do if your form is late, see Your 1099-B and Tax Documents.
What should I tell my tax preparer about Slay Markets futures taxes?
Tell your tax preparer three things: Slay Markets futures are Section 1256 contracts with mandatory 60/40 tax treatment (60% of net annual gains or losses treated as long-term and 40% as short-term, regardless of holding period); gains and losses are reported on IRS Form 6781 using Box 11 of the 1099-B — not on Form 8949 as individual stock trades; and the year-end mark-to-market adjustment is already calculated on the 1099-B, so your preparer does not need to compute it separately. For the full explanation of Section 1256 treatment, Form 6781, mark-to-market, and the 3-year loss carryback election, see Tax Treatment of Futures.
Questions your tax preparer may ask about Slay Markets futures
Your tax preparer may ask several questions about your Slay Markets futures activity. The declarative answers are below so you can respond quickly:
Open positions at year-end: if you held futures positions open on December 31, Boxes 9 and 10 of your 1099-B show the mark-to-market adjustment.
Non-U.S. accounts or foreign brokers: Slay Markets is a U.S. broker, so you did not trade in a non-U.S. account through Slay Markets.
Futures income outside the 1099-B: report any futures-related income received outside your 1099-B, such as from a commodity pool or hedge fund.
Net Section 1256 loss carryback: a net Section 1256 loss can be carried back up to 3 years, but the election must be made at filing time — ask your tax preparer whether it makes sense for your situation.
Common Slay Markets futures tax mistakes to avoid
The most common mistakes when filing Slay Markets futures taxes come from treating futures like stocks. Avoid these errors:
Reporting futures trades as short-term capital gains only — the 60/40 split is mandatory for Section 1256 contracts, not optional.
Forgetting the mark-to-market adjustment — if Box 9 or Box 10 of your 1099-B has a value, it must be included in your return.
Using the wrong form — futures go on Form 6781, not on Form 8949 as individual stock trades.
Missing the loss carryback opportunity — a net Section 1256 loss can be carried back up to 3 years, but this election must be made at filing time.
How to find a tax preparer familiar with futures taxes
Not every CPA or tax preparer is familiar with futures taxation, so it helps to verify their experience before they file your Slay Markets futures return. When interviewing a tax preparer, ask whether they have prepared returns for futures traders, whether they are familiar with Section 1256 contracts and Form 6781, and whether they understand how mark-to-market works for futures at year end:
"Have you prepared returns for futures traders before?"
"Are you familiar with Section 1256 contracts and Form 6781?"
"Do you know how mark-to-market works for futures at year end?"
Professional organizations that can help you find qualified tax preparers with investment or trader experience include the American Institute of CPAs (aicpa.org) and the National Association of Tax Professionals (natptax.com).
Frequently asked questions about working with your tax preparer
Q: When is my Slay Markets 1099-B available?
A: Your Slay Markets 1099-B is available in your Account Dashboard by February 15, the IRS broker delivery deadline. For delivery details, late forms, and corrected forms, see Your 1099-B and Tax Documents.
Q: Can Slay Markets provide tax advice?
A: No. Slay Markets provides your official tax documents (1099-B and account statements) but does not provide tax advice. For questions about how to report your trading activity, consult a qualified CPA or tax professional.
Q: My tax preparer says they have never seen a 1099-B for futures. Is that a problem?
A: Not necessarily, but make sure they understand the essentials before they file. Slay Markets futures are Section 1256 contracts that get 60/40 tax treatment, gains and losses go on IRS Form 6781 using Box 11 of the 1099-B, and the year-end mark-to-market adjustment is already calculated on the 1099-B. A preparer unfamiliar with futures-specific rules may default to reporting everything as short-term capital gains, which would be incorrect. For a full explanation to share with them, see Tax Treatment of Futures.
Q: What do I bring to my tax appointment for Slay Markets futures?
A: Bring your Slay Markets 1099-B and your year-end account statement, plus any corrected 1099-B if one was issued. Brief your preparer on Section 1256, the 60/40 rule, Form 6781 with Box 11, and that the year-end mark-to-market adjustment is already calculated on the 1099-B.
Working with your tax preparer at Slay Markets: summary
Bring your Slay Markets 1099-B (available in your Account Dashboard by February 15) and your year-end account statement to your tax appointment. Brief your tax preparer on the essentials of Slay Markets futures: they are Section 1256 contracts with mandatory 60/40 tax treatment, gains and losses are reported on IRS Form 6781 using Box 11 of the 1099-B, and the year-end mark-to-market adjustment is already calculated on the 1099-B. If your preparer is unfamiliar with futures taxes, verify their knowledge before filing. Slay Markets provides your tax documents but does not provide tax advice.
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Tradeify Brokerage LLC d/b/a Slay Markets is an Introducing Broker registered with the CFTC and an NFA Member (NFA ID 0575972), guaranteed by NinjaTrader Clearing, LLC. Slay Markets provides official tax documents but does not provide tax advice; consult a qualified tax professional.