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posted Jun 9, 2024 3:26:52 AM

In which year I need to select M2M when creating a new partnership LLC (2024) with spouse for stock options trading

Hi - I and my spouse are active trader and want to form an partnership LLC in Jun-2024 in california. In which year we need to select MTM (475f). I think we need to select before 3/15/2025 (along with filiing business taxes next year).

Could you @AmyC please confirm and provide more inforation.

 

Regards,

A

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1 Replies
Level 15
Jun 9, 2024 7:03:45 AM

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

 

AND

 

https://www.thetaxadviser.com/issues/2010/feb/sec475mark-to-marketelection.html