This thread is troublesome. I'm not sure if you have met with a tax professional who understands the trading world, but if you have, based on the limited information I believe you have some misunderstandings.
The whole purpose of making a mark-to-market election (MTM) is to utilize any losses currently. However, in order to be able to make that election, you must meet the trader tax status (TTS) threshold. So if you are only a limited partner receiving a K-1, this defeats the purpose of the MTM election since you are now treated as a passive member and the activity passing through on your K-1 is passive reported on form 8582 as noted in a previous thread. Since the losses are passive, these do not offset any current year income and will only be used in years where you generate passive income.
You need to meet with a tax professional. The cost will far outweigh any penalties for preparing an incorrect tax return or minimize any tax deferrals in future years.
If you have a "personal" account where you indicate you also made the MTM election, hopefully you understand the TTS requirements.
*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
