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Recording proceeds from stock futures

Unknown
Unknown Member
edited December 2017 in Investing (Windows)
Any recommendations for "Category" for stock futures transactions?  The day's trades arrive daily (in a single transaction) from the broker as Action=MiscInc, the amount, and Memo="TRANSFER FROM FUTURES ACCOUNT".  This is clearly short-term capital gain (I do not have a professional trader designation).  Quicken 2017 Home/Business Windows 10.

I don't have a separate "futures account" as such.  My brokerage account permits futures trading, but futures, options, and stock trades all occur using the one account.

Thanks,
Bill

Comments

  • K.O. (Win-Premier)
    K.O. (Win-Premier) SuperUser ✭✭✭✭✭
    edited December 2017
    I have an account at TD Ameritrade in which I trade futures as well as options and equities.  I also get "transfer from (or to) futures account" from TD when I download transactions.  While you say you don't have a separate futures account technically you do.  It's just that the broker is hiding the futures account inside your official account and hence the transfer transaction.  In my experience the futures true up daily based on the increase/decrease in the value of the futures you hold even if you haven't made a trade that day.  This does not mean that when your broker transfers money to/from your futures account that it is necessarily a gain/loss.

    What I do with my futures trades is treat them like a stock buy/sell. For example, if I'm buying 1 contract of the mexican peso (/6P) I enter a transaction 500,000 x price + commission.  I know this isn't how the brokers consider futures and it really changes the value of the positions held in Quicken compared to at your brokerage but I can't figure out another way to enter futures transactions such that I can truly understand my gains/losses.

    Probably not the response you were looking for but thought I'd share how I handle them.
  • K.O. (Win-Premier)
    K.O. (Win-Premier) SuperUser ✭✭✭✭✭
    edited November 2016

    I have an account at TD Ameritrade in which I trade futures as well as options and equities.  I also get "transfer from (or to) futures account" from TD when I download transactions.  While you say you don't have a separate futures account technically you do.  It's just that the broker is hiding the futures account inside your official account and hence the transfer transaction.  In my experience the futures true up daily based on the increase/decrease in the value of the futures you hold even if you haven't made a trade that day.  This does not mean that when your broker transfers money to/from your futures account that it is necessarily a gain/loss.

    What I do with my futures trades is treat them like a stock buy/sell. For example, if I'm buying 1 contract of the mexican peso (/6P) I enter a transaction 500,000 x price + commission.  I know this isn't how the brokers consider futures and it really changes the value of the positions held in Quicken compared to at your brokerage but I can't figure out another way to enter futures transactions such that I can truly understand my gains/losses.

    Probably not the response you were looking for but thought I'd share how I handle them.

    Sorry.  Peso is /6M not /6P
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