It seems that Form 6781 Part 1 does not allow to specify position close date. This is where I believe, for example, VIX option trades should go.
And it seems that TurboTax in case tax filer moved between states mid year, relies on close date specified on 8949 form to determine under which state closed position sale should be taxed. I don't know how this is supposed to work for 6781 form.
So:
- is it it ok to directly report VIX option gains (or loses) on form 8948 instead of 6781 and just be done with this? I.e. elect to treat VIX option gain (or loss) as 100% short term gain/loss instead of 60:40 ratio as specified for section 1256 contracts? In other words is this election optional or mandatory?
- Or should tax filer manually override TurboTax calculated numbers in "California Schedule D worksheet for nonresidents and Part Year residents"?
