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Strategies & Market Trends : Income Taxes and Record Keeping ( tax ) -- Ignore unavailable to you. Want to Upgrade?

To: Colin Cody who wrote (2036)	3/21/1999 5:58:00 PM
From: kaz	Read Replies (1) \| Respond to of 5810

Colin, From my reading of the rules you can't file mark to market if you're not a trader, and you're not a trader if you only have long term gains. So, I have accounts with almost no activity except dividends and so forth that I characterized as long term. My actively traded accounts are the ones I labeled short term and applied mark to market to on Schedule C. Perhaps I'm not understanding your point. Also, regarding expenses on Schedule D, my daytrading broker simply charges my first transaction of the month for the trade plus the monthly data fee. Therefore, it made sense to merely report it this way. It all works out in the end, but if I'm wrong, I'm wrong. I'll let you know what the IRS has to say about it. Regards, Paul Kaz