I want to take MTM for one account jointly held with my wife
-- but keep our other jointly and single held accounts the standard accounting method, what ever that is called. Can I do this? Or is it all or nothing for both of us?
It's probably nothing. The mark to market election is available only for taxpayers who qualify as "traders." Traders are people who are in the trade or business of buying and selling stocks for their own account in an effort to time short term market swings, not make longer term investments. More information is available at Kaye Thomas's web pages
No thoughts from this learned group?
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