Tax disclaimer

Realize is a software tool. We are not a CPA firm, law firm, registered tax preparer, or financial advisor. Nothing produced by Realize constitutes legal or tax advice.

Our outputs — including refund and savings estimates, the §1212(c) carryback analysis, Form 6781, Schedule D, and 1040-X worksheets — are computed from data you provide and from publicly known IRC provisions. Their accuracy depends on the completeness of your imported trades and on your reported bracket / prior-year figures. You or your accountant are responsible for reviewing every figure before filing.

Refund and savings figures shown anywhere on this site are illustrative. Your actual result depends on your full return, your prior-year filings, and IRS processing.

Carryback claims under §1212(c) require amended returns and IRS processing time; refunds are not guaranteed.

Section 1256 treatment applies to contracts that qualify under §1256(g)(7). Kalshi and Polymarket US event contracts trade on CFTC-designated contract markets and we treat them accordingly. Tax treatment for offshore venues — including the offshore Polymarket exchange (polymarket.com) for US persons — is materially different and not supported by Realize at this time.