Securities Trader Unrealized Gains/Losses

[1234x]

I filed as a mark to market securities trader on January 1, 2024.  I understand how to report my trades (realized gains/losses).  I am not clear how to report 1) the mark to market loss that I had from December 2023 (before I filed as a trader) or 2) the mark to market adjustment for December 2024.

Can some tell me where these adjustments are reported?  Thanks

[fanfare]

Gains and losses of old are in your Investment account.

you must keep that separate from your trader account.

maintaining an Investment account and a Trading account just makes your reporting situation more complex.

[1234x]

Thanks for responding.  This did not answer the question and misrepresents my situation.  I do not have an investment account I only have a trading account.  As a Securities trader with a mark to mark election (Form 3115) I need to report all activity (realized and unrealized).  The trader realized gains & losses are reported on Form 4797 but I do not see any instructions on where to report the trader unrealized gains & losses.  I appreciate the response but I don't this I got an answer.

[Mike9241 · Accepted solution]

you use the market value profit or loss on the 4797. 

 This would include any section 481 adjustment if you are going from a cost basis to MTM this year. 

did you properly submit the 475(f) election with your timely filed 2023 return or extension. (by 4/18/2024)

[1234x]

Yes - I filed the MTM election in March 2024

[fanfare]

"where to report the trader unrealized gains & losses. "

you don't have any unrealized gains because you are MTM

IRS does not allow you to mingle activity using one account as you are doing.