Income Taxes and Record Keeping ( tax ) Message Board

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Strategies & Market Trends : Income Taxes and Record Keeping ( tax )

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To: Nelson Chang who wrote (1999)	3/17/1999 8:26:00 PM
From: Colin Cody	Read Replies (1) of 5810

Nelson, Richard posted some good points here. The calculations of the taxable income are not changed as of March 18th. What happens on March 18th is new rules go into effect regarding 1) How to go about electing the Mark-to-Market method and 2) Getting IRS consent for making a change in accounting to the Mark-to-Market method. Prior to this it was a simple matter of just "clearly indicating" you wanted to use MTM on your tax return. BTW you can have until October 15, 1999 to make the 1998 elections and filings. you can read more details under "1998 elections" at: traderstatus.com Colin

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