T Sparks
Guru
- 326
I don't quite understand, Is he day trading DSNP?First of all it's Mark to Market, not market to market. An actual professional trader would not make that mistake.
Second, to actually qualify is the extremely difficult. It is the hardest qualification in the IRS tax code. And is us nearly impossible to qualify for if you have another business. There are plenty of court cases to prove this.
If you are using section 475, you are probably doing it without the blessing of the IRS, which means your taxes are a time bomb waiting to happen.
When you suddenly stop posting on these forums, we will now all know why.