Mark to Market: based on trades made in 2018?

[wrbtrader]

This has nothing to do with preparation, any person starting day trading will probably have one year without a mark to market election. A year without it isn't a big deal if your metrics are reasonable. If mark to market is a deal breaker then you shouldn't be trading.

Familiarity with mark to market can be gained by simply reading tax law. Once again, for all the people that have failed to read my posts and have simply glossed over them - this has to do with the basis for election, not how mark to market works.

Great job wrbtrader, maybe your old man should have bought you a book or two growing up to improve your comprehension of the English language.

You do not get it. That's ok...reason why you're in the position you're in...here at the forum looking for trader tax advice along with throwing an insult in there.

By the way, just in case you didn't notice (I hope you did notice)...your question was already answered here prior to my post.

Good luck and hope you'll be better prepared for next year along with being aware about recent new tax law changes that impacts traders. If not aware, hire someone (tax accountant) that will be aware of it for you.

 

[speedo]

Yup, an extension is a given. As I said, I haven't found a CPA that has time for a consultation before April 15.

I'm familiar with Green's site. Unfortunately there isn't information about whether or not my 2017 trades or 2018 trades are used to qualify me.

You can do an inexpensive consult with them on the phone.