Filing tax return as Trader Status and Mark to Market Election

The following link seems to be saying it's the same trade (see specifically the summary chart)...


http://www.desktoplawyer.net/dtl/index.cfm?event=base:article&node=A76058B76058D76528

 

Can you bring anything to prove this?
(Note: it seems what I found may be UK information)

 

why should i do the work to "prove"it?

 

No need. But where do you get the info?

 

OK. Tax Time.

I need to change my status for equity trading to M2M for the upcoming year (2011). I know I need to do this by 4/15 when I file my taxes (or 3/15 if I am not subject to filing this year). Is there a specific form I need to file with the IRS to make this election or just standard notarized letter as indicated in this link:

http://www.fairmark.com/traders/mtmelec1.htm

Also, how to you emphasize you only want this for equities and not futures or forex (or I would lose the 60/40 treatment they get)?

Thx.

 

no form, my guess is a very small numbers of people choose to do this so everything is kind of informal.

 

So something as simple as the aforementioned canned letter?

And how to you separate this for stocks/options only? Make a statement of this fact in the letter? I need to keep the 60/40 treatment but get rid of the wash-sale equity restrictions.

 

In this presentation it says you can elect for "securities only". So yeah I just used the Fairmark language and added a line, for securities only and not 1256 contracts. Not saying this is correct but that was years ago and no problem so far

http://docs.hamzeianalytics.com/SR_120810_Slides.pdf

 

Thx for the advice. Much appreciated.