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Level 1
posted Jan 2, 2022 4:53:09 PM

Day Trading s-corp Taxes

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?

0 2 491
1 Best answer
Level 12
Jan 2, 2022 6:10:06 PM

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

2 Replies
Level 12
Jan 2, 2022 6:10:06 PM

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

Expert Alumni
Jan 4, 2022 7:28:34 PM

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

 

@danchung85