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

To: Spike who wrote (509)10/9/1998 4:54:00 PM
From: Colin Cody  Read Replies (1) | Respond to of 1383
 
You "pretend" that you sold all those stocks at the close of business the last trading day of the year... and then report your income taxes as if you really did sell!
.
Colin



To: Spike who wrote (509)10/10/1998 5:11:00 PM
From: Kaye Thomas  Read Replies (2) | Respond to of 1383
 
what exactly is "mark to market?"

As Colin says, you treat all positions as if you sold them at the close of business on the last day of the year. The deemed sale occurs at the fair market value as of that date. You report gain and loss on the deemed sale, and your basis in those positions is adjusted accordingly.

Kaye Thomas, author
Fairmark Press Tax Guide for Investors
fairmark.com


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