thanks, very good read. Unfortunately (for 08) you have to file the year before.
"Mark-to-Market election must be filed with the IRS by April 15 of the year in which the trader wishes to switch to the Mark-to-Market accounting method. This means, that if you did not file this election by April 15th, 2007, you will not be permitted to apply Mark-to-Market method to your 2007 tax return this year. You will able to file this election with your 2007 tax return this year and use MTM for the year 2008."
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