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questions regarding "mark-to-market" status and possibly it's revocation
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questions regarding "mark-to-market" status and possibly it's revocation

  #1 (permalink)
Trading Apprentice
Los Angeles, CA/USA
 
Futures Experience: Intermediate
Platform: NinjaTrader
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Posts: 6 since Dec 2012
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questions regarding "mark-to-market" status and possibly it's revocation

After sending off the forms for requesting "mark-to-market" status, should I receive word back from the IRS as to whether I was allowed that status or not?

I sent this request a few years ago yet never heard back from them. Now that I want to trade futures only, I'm wondering if I should even bother trying to request that the "mark-to-market" status be revoked. By the way, I requested the MTM status in Texas, but now live in CA. Thanks!

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  #3 (permalink)
Market Wizard
virginia
 
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you dont 'request' you just inform them of your intent to file MM. If you didnt file MM nothing to worry about.

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  #4 (permalink)
Elite Member
Madison, Wi
 
Futures Experience: Intermediate
Platform: Ninja Trader, Trade Navigator
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dbarno's Avatar
 
Posts: 68 since Jul 2012
Thanks: 143 given, 56 received

A good accountant that knows your state and fed requirements can give you a real answer. Was in the same situation a couple of years ago. Why ask traders about tax questions?

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  #5 (permalink)
Market Wizard
virginia
 
Futures Experience: Intermediate
Platform: ninja
Favorite Futures: ES
 
cory's Avatar
 
Posts: 5,217 since Jun 2009
Thanks: 628 given, 6,314 received
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the generic answer "check with your accountant" sounds good but in reality few accountants even know what MM mean.

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  #6 (permalink)
Elite Member
Madison, Wi
 
Futures Experience: Intermediate
Platform: Ninja Trader, Trade Navigator
Favorite Futures: CL,GC, HG
 
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Posts: 68 since Jul 2012
Thanks: 143 given, 56 received

Took me a while to find one that knew what they were doing. If you were from Wi. I'd have a great recommendation for you.

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