Question
How do I generate my Income/Loss using the Mark-to-Market election?
Answer
If you qualify as trader status and elect mark-to-market (MTM) with the IRS, you can use GainsKeeper to generate a MTM report which you can use to fill in your Income/Loss Form 4797. See MTM for more information on the MTM election. GainsKeeper will automatically close any open positions using the year-end closing market price. The position will then be re-opened at the same price the 1st of January. To generate your MTM report for MTM accounts, use the Tax Center>Custom Reports section.