u/Impossible-Panic007

I use straddles and contracts form for reporting futures.
Will this automatically tax bracketed at 26.8% by considering 60% as Long term capital gains and 40% as Short term gains or I have to report 60% of my profit as LT profit and 40% as Short term for each contracts.

According to IRS
“Regardless of holding period, 60% of gains/losses are taxed as long-term capital gains and 40% as short-term, resulting in a lower maximum effective tax rate of 26.8%”