Hey guys, say I have two trading accounts. one for stocks and another for futures. do you think I can elect MTM only for the account which deals with stocks? Thanks.
Yes. You can elect it on a per account basis but you need to consult with a professional before you do this. There are advantages and disadvantages to this election and you need to understand all the ramifications of this election. Some more info on it... http://www.greencompany.com/EducationCenter/GTTRecTraderTaxStatus.shtml http://www.traderstatus.com/mark2mkt.htm
Another thing you may want to consider is a 2-person Limited Partnership, perfect if you are married. This can be very useful for what you are considering and can clear up some of the problems associated with doing it as an individual. Again, you gotta get a pro to set it up right.