> Bill Brown wrote:
>>> nickr wrote:
>>>> 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.
>> I qualify as a trader; my wife does not. Can a joint account
>> be selected as mark to market?
> No thoughts?
OK, here is my thought - you won't qualify. Mark to market involves an accounting method that segregates the equity section of the balance sheet. Are you trying to use this to books a tax loss?
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