What is required to file for Mark-To-Market with the IRS?

Discussion in 'Retail Brokers' started by jackpearson, Mar 14, 2012.

  1. How do I go about switching to Mark-To-Market with the IRS?
  2. rmorse

    rmorse ET Sponsor

  3. BSAM


    Forget the hassles.
    Trade futures.
  4. Let me ask it a different way.

    For someone who has filed for Mark-To-Market, how did you do it?
  5. rmorse

    rmorse ET Sponsor


    You're going to need the advise of an accountant. You also might need to create an entity like an LLC.

    To elect Section 475 MTM, follow this two-step procedure:

    1. File an election statement on time. The MTM election statement is one simple paragraph; unfortunately the IRS hasn’t created a tax form for it.

    2. Existing taxpayers finish their MTM election by filing a Form 3115 (change of accounting method) with their current-year tax return. A 2011 MTM election filed by April 15, 2011 is reported on a 2011 Form 3115 filed in 2012 with your 2011 tax returns. New taxpayers adopt Section 475 from the outset; they aren’t changing their accounting method so they don’t have to file a Form 3115.
  6. are there any individuals on the board here that have filed mark-to-market just with their own name?

    if so, how did you file it?
  7. bump
  8. Bob111


    if you read about it-it's not recommended for individuals. easy to get into,no so if you done.


    plenty of info about it. here and on web. read very carefully. imo-not worth the hassle,unless you making serious money daytrading.
    last year my gross proceeds are >100M. and i still not convinced that i needed it.
  9. shfly