I think the $3K limit on capital losses/yr doesn't apply.
That's the one I forgot about. I've had 400 ins and outs this year and I have to find a CPA or tax consultant who knows daytraders, swing traders, so I can get this mark to market for next year. The guy I had do them last year didn't even mention them. Later I heard about it in an investor's chat room. Thanks for the info. I'll go read the IRS bulletin so I can get really informed! sarc extremely on.
The option of M2M is likely searchable on the IRS website. But you have the right idea, I think you have to elect NOW, pre 12/31, for a return nominally dated 4/15/06....
I once met a guy who had a 1200 page schedule D. No comment necessary!