Amend 2019 return to elect mark-to-market accounting method

wenbozhu2020 — Sun, 02 Aug 2020 07:32:34 GMT

Filed my 2019 return in April and now I want to change the accounting method for day-trading to Mark-to-market due to expected losses for 2020.

Can I file an amended return just for this?

Thanks.

Re: Amend 2019 return to elect mark-to-market accounting method

Anonymous_ — Sun, 02 Aug 2020 13:50:21 GMT

A trader must make the mark-to-market election by the original due date (not including extensions) of the tax return for the year prior to the year for which the election becomes effective....

See https://www.irs.gov/taxtopics/tc429

topic Amend 2019 return to elect mark-to-market accounting method in After you file

Amend 2019 return to elect mark-to-market accounting method

Re: Amend 2019 return to elect mark-to-market accounting method