Amend 2019 return to elect mark-to-market accounting method

wenbozhu2020 · ‎August 2, 2020

Filed my 2019 return in April and now I want to change the accounting method for day-trading to Mark-to-market due to expected losses for 2020.

Can I file an amended return just for this?

Thanks.

Anonymous_ · ‎August 2, 2020

A trader must make the mark-to-market election by the original due date (not including extensions) of the tax return for the year prior to the year for which the election becomes effective....

See https://www.irs.gov/taxtopics/tc429

See also https://www.journalofaccountancy.com/issues/2014/jul/sec-475-election-20149537.html

View solution in original post

Anonymous_ · ‎August 2, 2020

A trader must make the mark-to-market election by the original due date (not including extensions) of the tax return for the year prior to the year for which the election becomes effective....

See https://www.irs.gov/taxtopics/tc429

See also https://www.journalofaccountancy.com/issues/2014/jul/sec-475-election-20149537.html