Hi Ikspec, you don't have your email receive turn on but my answer will be the same, buy Ted Tesser book or take a day off and read it in Barner & Noble or Border book, it will be the best $65 buck you will ever invest seriously http://www.alldirect.com/bsearch.as...407&srchType=bookAuthor&srchString=ted+tesser After you declare intent to file as MM last year, you will be able to file as MM this year and 2 years back, however I just come across other ET thread saying new law allowing up to FIVE year back??? this is one of subject that the more you talk about it, the more confuse it become, only way to do it is follow the book instruction and then you will understand.
I hope my tax acct is not the only one who did not follow the MTM rulings .... because if so , and if the IRS has some sort of software that flags traders who deducted more than $3000 in losses for a given year without the MTM election being taken I guess my acct will have a date down the road with the IRS and I will owe some back taxes (?) :eek:
can someone who has filed for mark to market post a copy of the letter sent to irs to elect change so we can see how it should be worded.