Mark to Market Election for ES traders??

Discussion in 'Index Futures' started by Dominic, Mar 17, 2009.

  1. Dominic

    Dominic

    I orginally filed the mark to market election along with chage in accounting method back in 2000 for my equities trading which I have been doing fulltime.

    I have decided to trade the ES this year and curious if I need to file another mark to market election for the futures or if the orginal filing will suffice??

    Thanks

    Dominic
     
  2. vikana

    vikana Moderator

    futures are *always* MTM - no filing needed.
     
  3. Surdo

    Surdo


    I believe the OP was asking can he still file with MTM "Trader Status" if he trades ES as well as equities.

    If you file MTM accounting, all your trading profits are ordinary income, not capital gains.

    http://www.irs.ustreas.gov/pub/irs-pdf/p550.pdf

    I do not believe you have to ammend your MTM status, to trade 1256 contracts as well, check with a CPA and DO NOT depend on answers (GUESSES)on this board.
     
  4. What does "Mark to Market" stand for?
     
  5. Surdo

    Surdo

  6. thanks.