You are about to select a cost basis accounting method that requires IRS pre-approval.
If you have already received pre-approval from the IRS, before you proceed, please consider that making this selection at E*TRADE:
We strongly recommend that you consult with a tax professional to determine whether you qualify for Mark-to-Market accounting. The information on this screen should not be construed to represent tax advice.
If you have not received pre-approval from the IRS, please click the Back button below to exit this form.
If you have already received pre-approval from the IRS, before you proceed, please consider that making this selection at E*TRADE:
- Does not complete the IRS application process, nor does it constitute express or implied IRS "acceptance" of your application
- Does not qualify you as a "trader" or "dealer" as defined in the Internal Revenue Code
- Will exempt the selected account(s) from wash sale processing on a going-forward basis only
- Will make First-In, First-Out your only option for lot selection in the selected account(s)
Please also be aware that Mark-to-Market accounting is irrevocable without approval from the IRS.
We strongly recommend that you consult with a tax professional to determine whether you qualify for Mark-to-Market accounting. The information on this screen should not be construed to represent tax advice.
If you have not received pre-approval from the IRS, please click the Back button below to exit this form.