You get marked as a PTD at the brokerage if those requirements are met. You made it sound like I need to do something per the IRS. Either way, my accountant at TT helped file my taxes last year and I was a PTD.
Regarding realized losses and gains, no matter the case, realized gains and losses always offset each other (long term and short term gains) As an example for my entire trading year, if I made 40k on a stock and sold, then lost 35k on the same stock same year (short term gains) my tax liability is on the 5k.
^^This would be how I determine my tax liability day-by-day on my statement.
