I have a modest $4000 spot profit in 2006 .....

1.On the 1256 form 6781 I cant work out where to enter my spot trade profit..

Is it just in part 1. as a summery total.

2. Do I need to enter my open positions in part III ( in the instructions it says enter MTM profits then the last comment is : Do not complete Part III if you do not have a recognized loss on any position.

3. I have no 1099 -B do I need to include any other details?

If my marginal tax rate is below the average 35% do I just pay my highest income rate on the portion taxe at short term rate?


Wow the trading is hard but the tax is even worse...help...