Quantcast

Welcome to Day Trading Radio

Login here to get started

Are you new to the site? You can try out a free, two-week trial to see if Day Trading Radio is the right fit for you.

Get Started

To start your free trial, simply click here! And remember, you will not be billed for the first two weeks.

Member Login

Lost your password?

Premium Membership Benefits

  • See our charts as we perform technical analysis.
  • Hear Live Trading Set ups
  • Ask questions and interact with top traders
  • Unlimited access 7 days a week 24 hours a day
  • Breaking News Announced on site

Day Trader Radio

Day Traders - Section 475F election due by April 18th

daytraderockstar post

posted by daytraderockstar

Apr 13, 2017 4:58 pm

Day Traders - Section 475F election due by April 18th

The Internal Revenue Code Section 475(f) election is due April 18, 2017, for the 2017 fiscal year even if you are filing an extension of time to file your 2016 tax return. I.R.C. §475 allows traders in securities or commodities, to elect to mark-to-market their securities or commodities to market value as of Dec 31, 2017, and all subsequent tax years.  The mark-to-market provisions of I.R.C. §475 require a security or commodity subject to I.R.C. Section 475 to be treated as if it were sold on the last business day of the taxable year for its fair market value and a gain or loss must be recognized.  Also under I.R.C Section 475, the trades subject to the election are not subject to the wash sales rules and those trades are not limited to the capital gain loss limitations.

Please contact me if you would like assistance with your I.R.C. election and/or extension.

Courtney Kurisko
Certified Public Accountant 

www.ckaccountingandtaxation.com