Mark To Market accounting and previous carried over losses

Discussion in 'Taxes and Accounting' started by boofoo, Mar 30, 2011.

  1. boofoo

    boofoo

    I plan to switch to M2M accounting this year. However, I still have a few thousands carried over losses from previous years. When I report tax next year, what will happen to my previous losses? I can deduct all of it with this year's incoming?

    Thanks!