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Tax problem with daytrading futures in Roth IRA?
I am unsure if you misconstrued my declaration. First I declared trader status with the IRS. I filed the following: Sent a letter to the IRS indicating that I wish to elect markto market, under section 475(f) of the Internal revenue code.(did this two years ago) 3115 - which indicated...- Mark2m
- Post #26
- Forum: Taxes and Accounting
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M
Tax problem with daytrading futures in Roth IRA?
Yes , I have mark to market. I have a seperate acct dedicated to this business. The reason's are as follows: 1) This was set up prior to trading futures. With stocks/mark to market, I am able to trade without worry of wash sales rules. 2) All of my expenses, seminars, trading, (between...- Mark2m
- Post #24
- Forum: Taxes and Accounting
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M
Tax problem with daytrading futures in Roth IRA?
As an FYI, I have trader status with the IRS, therefore it is a business. I am also trading futures even though I can't participate in the 60/40 tax situation(under trader status) I have two Roth IRA's, wife & myself, and day trade equities. I am using IB and trade an average of 30 trades...- Mark2m
- Post #20
- Forum: Taxes and Accounting