âPursuant to IRC 475(f), the Taxpayer hereby elects to adopt the mark-to-market method of accounting for the tax year ended Dec. 31, 2002 and subsequent tax years. The election applies to the following trade or business: Trader in (Securities, commodities or securities and commodities)â...
Thanks New_2_this and Gene Weissman for you answers. Another question...How would it be calculated if the 1000 shares was held overnight in a direct access account?
Say I buy 1000 shares of XYZ @ 50.00 per share using 100% margin at the open. I then sell 1000 shares of XYZ @ 51.00 per share before the market closes.
Will there be any margin cost?
If yes, how will it be calculated?
New traders and many veteran traders, for that matter, will have important tax questions to answer in the near future. Has anybody used the firm GreenTraderTax.com in handling their tax returns, set up of business entities or retirement plans, etc.
Can anybody supply any information about the MarketWise Trading school?
Four day Direct Access trading course?
Two day Technical Analysis course?
Two day Options trading course?
One day Realtick trading course?