Futures Contract




Report a futures contract (or “future”) and income from the future in Part 6.

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Description

EIF

Value

Income Type

Income Amount

1

Crude oil futures, closed position

N/A

None (or less than $1,001)

capital gains

$1,001 - $2,500

2

Pork belly futures, open position

N/A

$1,001 - $15,000

 

None (or less than $201)

3

Silver futures, open position (value not readily ascertainable): December 2019, 10 contracts, $32.20/oz.

N/A

 

 

None (or less than $201)

For You, Your Spouse, and Your Dependent Children

Part 6

Report futures if the value of the future was more than $1,000 at the end of the reporting period or if more than $200 in income was received during the reporting period.

DescriptionProvide the name of the future and indicate whether the position is open or closed.

EIFSelect “N/A.”

ValueReport the value by selecting the appropriate category.  If the value of the future is difficult to determine, write “value not readily ascertainable” in the “Description” field and provide the following information: (1) the contract month and year; (2) the number of contracts you control; and (3) the closing price of the future.

Income Type:  Specify the type(s) of income if the total amount of income received during the reporting period exceeded $200.

Income Amount:  Select the category corresponding to the total amount of income received during the reporting period.

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