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Strategies & Market Trends : How To Write Covered Calls - An Ongoing Real Case Study!

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To: jebj who wrote (12220)	1/20/2000 5:09:00 PM
From: Dan Duchardt	Read Replies (1) of 14162

jb, Had some losses that I would like to take - does this mean that I can only roll 3000/year from the past years losses in the future even if I elect Mark to Market in the future? That is my understanding, yes. Anything you report this year will be capital gain or loss, since you cannot now elect Mark to Market for 1999. If you make the M2M election in the future, your M2M gains and losses will be treated as ordinary income, so you will only be able to take 3000/year of your carryover capital losses. However, you can still hold positions that are not M2M positions. It sounds to me like you get to decide which are and which are not (but I assume that choice should be reasonable based on holding time). So you will still be able to realize non-M2M gains and use the carryover capital loss to offset them. Dan

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