Change Existing Account to MTM Accounting

If you are switching from cash basis to MTM accounting for an account you are currently tracking in TradeLog:

NOTE: Individuals must qualify for trader status by IRS rules and then elect mark-to-market accounting method based on federal procedures. We strongly recommend consulting with a CPA and/or trader tax expert in electing MTM. To learn more see our Educational Tax Topics for more information.

Open the TradeLog file containing your accounts.
Right-click on the Account Tab for the brokerage account you need to change. Select the Edit option.
In the Account Setup dialog, select the MTM (Taxable) option to change the Account Type, then click OK.
A warning message will appear to confirm you are switching the accounting type for the account. Click Yes to continue.
TradeLog will automatically find the historical year end fair market price for each position.

If the price cannot be located, TradeLog will leave the price blank, and you will need to manually enter the year end fair market value for each of those positions as of 12/31 of the relevant year.

Year-end prices can often be found on the broker's statement for December of the tax year. Please make sure you verify the prices found with your statement.
TradeLog will generate the needed adjustments to change your accounting method to MTM.

When prompted, click Yes to save records.