Mark to Market Accounting / family accounts

March 24th, 2015, 12:12 PM

This is mark to market accounting tax question mostly.

I am a full time trader under my Sole Proprietorship. My accountant suggested I convert to Mark to Market accounting for 2014, which I did.

I am married and manage my two Short Term trading accounts, my one Long Term (1yr +) account and my wife's Long Term holding account.

Today my accountant tells me that all my accounts will be treated as Mark to Market. Even my wife ( we file jointly). Does this should right? My wife is not a trader. Is anyone else in this situaltion?

March 24th, 2015, 12:16 PM

I think in Ryan's webinar he addressed that question:

Webinar: Tax Strategies for Traders w/Ryan Curran

Hi guys,

It is my pleasure to welcome Ryan Curran, Principal of Curran LLP, for a Tax Strategy webinar on Tuesday, March 10th @ 4:30PM Eastern US.

This webinar is sponsored by Stage 5 Trading's FuturesTrader71 and Stage5 Anthony. I asked them …

March 24th, 2015, 12:20 PM

Please use the tax thread:

The Tax Thread

I thought we could use a thread devoted to Taxes. This is all things taxes regarding trading.

One example, Advantages/disadvantages for different situations (equities, futures, forex, etc) as well as benefits of filing sole-proprietor vs LLC or as a …

Mike

Mark to Market Accounting / family accounts

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Mark to Market Accounting / family accounts