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Strategies & Market Trends : Income Taxes and Record Keeping ( tax )
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To: mod who wrote (2069)3/24/1999 10:19:00 PM
From: Robert A. Green, CPA   of 5810
 
Traders - Form 3115 & Section 481 adjustments

We just added a new supplement section to our 1998 Trader Tax Return Examples Guide on Form 3115 and Section 481 adjustments. You should read this section before filing your 1998 tax returns.

If you already purchased our 1998 Trader Tax Return Examples Guide, you receive this supplement free.

Many Traders who elect mark-to-market accounting treatment for 1998 need to file Form 3115 for a "change of accounting method." Remember that you can elect mark-to-market accounting for 1998 with the filing of your 1998 tax return including extensions.

We include our analysis of Form 3115, when you need to file it and strategies in connection with its filing.

We include an Example Form 3115 for a Trader in Securities electing mark-to-market accounting together with several pages of attachments that go with the filing. We show you how to file it with your return and a copy directly with the IRS.

We discuss Section 481 adjustments. We show you an example section 481 adjustment and we explain when you need to make these adjustments.

If you need any help in deciding whether you need to file Form 3115 or in how to fill it out and/or in calculating your Section 481 adjustment, consider our Trader Tax Solution Package.

Any Trader electing mark-to-market really needs to know these rules.

tradertax.com
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