MTM question

Discussion in 'Professional Trading' started by kooltrader, Apr 10, 2006.

  1. kooltrader

    kooltrader

    If I elected last year (for the tax year of 2004 actually) for MTM accounting type, do I have to elect again for 2005?

    Thanks
     
    #1     Apr 10, 2006
    Share
  2. Free Thinker

    Free Thinker

    no
     
    #2     Apr 10, 2006
    Share
  3. QQQShort

    QQQShort

    Vhehn is correct. The election is permanent, unless you get permission from the IRS to revoke it.
     
    #3     Apr 10, 2006
    Share
  4. kooltrader

    kooltrader

    Thanks both.
     
    #4     Apr 10, 2006
    Share