questions regarding "mark-to-market" status and possibly it's revocation

March 26th, 2013, 07:35 PM

After sending off the forms for requesting "mark-to-market" status, should I receive word back from the IRS as to whether I was allowed that status or not?

I sent this request a few years ago yet never heard back from them. Now that I want to trade futures only, I'm wondering if I should even bother trying to request that the "mark-to-market" status be revoked. By the way, I requested the MTM status in Texas, but now live in CA. Thanks!

March 26th, 2013, 09:34 PM

you dont 'request' you just inform them of your intent to file MM. If you didnt file MM nothing to worry about.

March 27th, 2013, 07:00 AM

A good accountant that knows your state and fed requirements can give you a real answer. Was in the same situation a couple of years ago. Why ask traders about tax questions?

March 27th, 2013, 08:55 AM

the generic answer "check with your accountant" sounds good but in reality few accountants even know what MM mean.

March 27th, 2013, 09:06 AM

Took me a while to find one that knew what they were doing. If you were from Wi. I'd have a great recommendation for you.

questions regarding "mark-to-market" status and possibly it's revocation

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questions regarding "mark-to-market" status and possibly it's revocation