Except for the first year in business, you can make that selection at the tax time of current taxes.

EDIT: I am wrong: https://www.optionstaxguy.com/mark-to-market

true about the mark-to-market specific election, it does need to be done the year prior and makes things for the following year earlier. He will still get out of the tax bill though through documentation.

> A trader must keep detailed records to distinguish the securities held for investment from the securities in the trading business. The securities held for investment must be identified as such in the trader's records on the day he or she acquires them (for example, by holding them in a separate brokerage account).