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Strategies & Market Trends : IRS, Tax related strategies--Traders -- Ignore unavailable to you. Want to Upgrade?

To: Robert A. Green, CPA who wrote (253)	3/24/1998 10:03:00 AM
From: Colin Cody	Read Replies (1) \| Respond to of 1383

Robert, Thanks for the cite. (reproduced below) "Any gain or loss recognized by an electing taxpayer is ordinary gain or loss. (Com Rept, see 5111). - Per, RIA quote taken from their discussion of mark to market rules." . What I asked for was a cite for this: "2. Traders may report their year-end "unrealized" gains and losses on Schedule D. You would probably choose this option if you have unrealized losses. Those unrealized losses reduce your realized capital gains. If your net capital loss exceeds the $3,000 limitation, then you may report the excess unrealized losses on Schedule C. We suggest you explain this treatment on your tax return in a memo." . Would you please provide references for THIS theory... . Colin