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fusionz

Registered: May 2004
Posts: 139

04-15-12 10:13 PM

Quote from Robert A. Green:

Paper file the federal extension and attach the Section 475 MTM election statement to that extension. There is no way to make that election statement with an e-filed extension.

I just efiled my federal extension with an additional page for the Section 475 MTM electon

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promagma

Registered: Aug 2004
Posts: 781

04-15-12 11:48 PM

With the new 1099 rules it is important to notify your broker when you go MTM. I wasn't thinking ahead and got a 1099 with all the crazy wash sale stuff.

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Bob111

Registered: May 2002
Posts: 6422

04-16-12 12:51 AM

Quote from stock777:

Interestingly, you can easily qualify when trading actively , then in subsequent years back off heavy trading. In that case I don't think you lose the mtm status .

http://www.daytradingcoach.com/dayt...ontaxfiling.htm

http://www.traderstatus.com/trader.htm

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stock777

Registered: Jul 2001
Posts: 15411

04-16-12 04:17 AM

Quote from Bob111:

http://www.daytradingcoach.com/dayt...ontaxfiling.htm

http://www.traderstatus.com/trader.htm

Yes, thats good info, but I'm referring to someone that simply stopped trading actively for a period of time, say 2 years. I don't think they would lose the mtm status.

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