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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)
chris777
Los Angeles, CA/USA
 
Posts: 6 since Dec 2012
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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)
 
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 cory 
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)
 
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 dbarno 
Madison, Wi
 
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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)
 
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 cory 
virginia
 
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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)
 
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 dbarno 
Madison, Wi
 
Experience: Intermediate
Platform: Ninja Trader, Trade Navigator
Trading: CL,GC, HG
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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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Last Updated on March 27, 2013


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