How to report Kalshi losses?
Bryce
Member Posts: 1 Newcomer
I see little to no resources online about how to report Kalshi losses. As far as I'm concerned, Kalshi losses count as capital losses, not gambling losses. Under the Common Income tab, I don't see any place appropriate to report those losses.
PSA: I was not provided any forms from Kalshi
0
Comments
-
Hi Bryce,
Based on the research I did, I agree with you. Kalshi income and losses should be reported as capital gains or losses on Schedule D. See the Investments and Interest section under the Income menu.0 -
Where do we report it? I'm looking at the "investments and savings" tab. Do we use 1099-B? My research says it should be reported on Form 6781 and Schedule D.
0 -
Hello Jimmy,
See the "Contracts and Straddles" section under Income > Uncommon Income. This is where you would enter Section 1256 contracts.0 -
Yes, that's where I reported it. Thanks. I have no idea if I did it correctly though.
0
