Mark-to-market election

Hi, guys!
Great to join you!
Plz, comment on mark-to-market election process. Based on your OWN experience.
I googled the rest of info available.
1. How long did it take for you to get IRS Form3115F approval (provided u met all the criteria).
2. What did you choose in Part4, Q27. $50,000 de minimis election or "as needed" eligible acquisition transition election? And why? My accountant could not answer it and sugggested 50K. Which may not be sufficient by the end of the year.

Thnx a lot in advance!

ps. the above q's/answers r the key to my day trading strategy adjustment

 

Thanks for moving it to the taxes part. Will read it

 

You should not seek this type of advice here as the details are too important. I suggest you get get a consultation from https://greentradertax.com/

 

1. I'm pretty sure you never get written approval from the IRS for Form 3115F. I'm sure they will contact you if it is not approved.

2. Don't know.

Good luck.

 

Thnx much. This is the first good point

 

Greetings!
Robert, i just set up a consultation with Mr. Green.
Thanks a lot!

ps. It was nice talking to Julie. We did speak the same technical language.

 

Excellent.

 

Excellent advise Robert....good to know there are some good people on this blog...many are not...