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Strategies & Market Trends : IRS, Tax related strategies--Traders

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To: Colin Cody who wrote (752)3/14/1999 3:44:00 PM
From: Nelson Chang  Read Replies (1) of 1383
 
Colin:

>>>MARCH 18, 1999 is the date that Trader Status MTM elections are being significantly changed.<<<

I am filing for trader status and plan to elect MTM.

So just to clarify things, I must elect MTM by this Thursday March 18 to be eligible for its benefits for the 98 tax year to be filed?

And does that mean I must pay the taxes in full by March 18, or do I have until the traditional April 15? Hopefully, the latter.

Last, can you give us a specific link to the IRS regarding this new rule for MTM? I'd really like to read up on it.

Thanks in advance.
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