bkp_duke
Well-Known Member
"A trader must make the mark-to-market election by the original due date (not including extensions) [April 15th] of the tax return for the year prior [Year - 1] to the year for which the election becomes effective [Year].
Year effective: 2022 "If you have huge capital loss in 2022"
Year prior: 2021
Date of election: 2021 filing date: April 15, 2022
So for 2022, deadline would be 2021's filling due date of April 15th, 2022. Note also the normal income treatment of all stocks, unless specifically excluded at time of purchase.
Not correct, go back and re-read that. I've double-checked this with my CPA.
This:
"A trader must make the mark-to-market election by the original due date (not including extensions) [April 15th] of the tax return for the year prior [Year - 1] to the year for which the election becomes effective [Year].
April 15th 2023, for 2022 losses.
Why would you possibly file for 2022 losses by April 15th 2022? That's only 1/3 of the year so far, you have no idea what your gains/losses might be.