First get into Forms mode (this means you're using the desktop program, not Online).
Then open Schedule C Give it a name (Trader)
Set Line 7 Accounting Method Other (MTM)
Click the upper Quickzoom button Disposition Worksheet
Give it a description ( "Trading outcome")
In Part 1 A. enter (as per IRS instructions) "Trader-see attached".
The red boxes for Property A will open.
Fill in the red boxes with your year end results.
For Type of property Choose H ( Ordinary )
Your 4797 p1 will be generated.
Open your form 4797 and complete Line 1 (one of the few fields that will take more than 10^7 dollars)
Open Form 1040 Click Print on the bottom of the screen.
The income appears on your Form 1040 Line 8
Note: When the tax return is printed, Schedule C will not be included.
If you want Schedule C you'd have to complete some other lines there.
The attachment is the details of all your trades for the calendar year.
That means you'll have to file a paper return.
@taldrknsom
