You first have to be a trader as opposed to being an investor to make the mark to market election. Being a trader has many qualifications, but the basic test is how much time and effort you spend managing your investments. You make the election by attaching a notice of your mark to market election to your tax return for the first year you want to have it effective. It will remain in effect until your take steps to revoke the election. You must file Form 3115 Application for Change in Accounting Method in the year you make the election. You can learn more from this article from the IRS: Mark to market election - IRS
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