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Financial Planning / Tax Strategies


Subject:  Re: Trader status mark-to-market election Date:  9/19/2013  5:54 AM
Author:  TMFPMarti Number:  119167 of 127281

I know that a trade of a like security in a tax advantaged retirement account within 30 days of a losing trade in a taxable account may require that I pay taxes on gains in the tax-advantaged account & possibly interest & penalties.

Well, that's news to me. The situation you describe results in a wash sale and nothing else.

Do my accumulated short-term capital loss carryovers from previous years disappear when I switch from Schedule D to MTM?

No. You continue to use them as before on Schedule D.

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