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EDUCATION CENTER INTERACTIVE: GTT MESSAGE BOARD Proprietary Trading >> Tax issues if working for a proprietary trading firm Pages: 1 Previous   Index   Next   Flat   Threaded   newcareertrader stranger Reged: 03/10/08 Posts: 1 MTM       #669 - 03/10/08 10:47 AM Edit Reply Quote I receive a K-1 from a prop firm who already uses mtm accounting - do I still file the election for myself? if so, and I have missed the deadline for 2007, what do I do? - record each trade and all wash sales for the million plus shares I traded last year? Post Extras:       GreenGTTCPA CPA & CEO Reged: 10/31/03 Posts: 275 Re: MTM       #670 - 03/15/08 10:28 AM Edit Reply Quote No, the MTM election is handled on the entity-level. Just report the summarized K-1 info, not line-by-line trades. -------------------- Robert A. Green, CPA & CEO GreenTraderTax.com Post Extras:       Pages: 1 Previous   Index   Next   Flat   Threaded   Extra information Permissions Misc 0 registered and 0 anonymous users are browsing this forum. Moderator:    Print Thread · You cannot start new topics · You cannot reply to topics · HTML is disabled · UBBCode is enabled Rating: Thread views: 7144 Rate this thread Jump to 1 star 2 star 3 star 4 star 5 star *Traders* -----   Trader Tax Status   Mark to Market (MTM) Accounting   IRS Exams   Trade Accounting   Retirement Plans   Entities   Self-Employment Tax*Investors* -----   Investors - General Questions*Hedge Funds* -----   Accounting & Software   Tax, Audit and Business*Proprietary Trading* -----   General issues & Pros/Cons of proprietary trading   Tax issues if working for a proprietary trading firm UBB.threads™ 6.3.2