Marking Your Trades to Market

If you're a trader and want to mark your trades to market on Schedule C Profit or Loss from Business in 2003, be sure to attach a note stating your intentions to do so with your 2002 tax return.

Remember, Uncle Sam needs to know this practically a year in advance. When traders elect to mark their trades to market, they treat their trades as if they were sold on the last business day of the year. (It's just a paper transaction.) See this story for more details.