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Level 1
January 3, 2022
Solved

Day Trading s-corp Taxes

  • January 3, 2022
  • 2 replies
  • 67 views

Hi guys,

 

I only found this thread: https://ttlc.intuit.com/community/business-taxes/discussion/day-trading-losses-with-an-llc/01/2030229#M67427

 

I have an S-corp registered for a few years, but i have incurred significant losses day trading. I have not elected MTM. 

 

Would I still be able to treat the losses as ordinary under the s-corp?

Best answer by M-MTax

Can't treat the losses as ordinary without an MTM election.

2 replies

M-MTax
M-MTaxAnswer
Level 15
January 3, 2022

Can't treat the losses as ordinary without an MTM election.

DaveF1006
Level 15
January 5, 2022

Yes, what martinmarks advised is correct. Please read this IRS link for more specific details.

 

@danchung85

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