Welcome Guest. Register Now!  

LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 07-11-2009, 09:01 PM
TaxGuru's Avatar
Tax Guru
Join Date: Jan 2007
Location: New Jersey, USA
Posts: 2,413
Blog Entries: 3
How can a taxpayer make a Mark to Market Election?

Generally, the IRS requires that the "mark-to-market election must be made by the due date (not including extensions) of the tax return for the year prior to the year for which the election becomes effective."

How is the Mark to Market Election made?
The Mark to Market Election is made by attaching a statement either to your income tax return or to a request for an extension of time to file your return. The IRS requires that this statement should include the following information:

1. That you are making an election under section 475(f) of the Internal Revenue Code.

2.The first tax year for which the election is effective.

3.The trade or business for which you are making the election.

Taxpayers refer to the Form 1040, Schedule D Instructions (see below) for further instructions on how to make the mark to market election.


What is the tax treatment of sales of securities in connection to trading business?

Find a CPA near you!

Ask TaxGuru Please refer to the legal disclaimer.

Last edited by TaxGuru : 07-11-2009 at 09:03 PM.

Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
IRS, Partners Mark Super Saturday March 21 to Help Taxpayers Samatg Tax News 0 03-17-2009 03:13 PM
IRS and Partners Mark EITC Awareness Day; EITC Could Mean Bigger Refunds Samatg Tax News 0 01-30-2009 07:20 PM
There is no strategy for this dire market! The market confidence has been wrecked! Pancho Investment Strategy 1 11-04-2008 09:41 AM
Will the IRS allow me to make a contribution to both a SEP-IRA and a Roth IRA? disa IRA/Sep 1 02-05-2008 10:24 AM
Dont forget to make an IRA contribution for 2006 TaxGuru IRA/Sep 0 04-04-2007 10:31 PM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 » Income
 » IRA/Sep
 » Medical
 » Payroll
Forum for CPAs
Financial Planning