I'm in same situation and need help. I started doing active day trading (Jan 2023) that meets irs tts status. But I also have full time job, and no llc. The silver line is I trade only in 1 account for options, 1 for 1256 contracts. So I still have time
By end of the year I plan to open llc and separate the trading business completely
Should I just file with turbo tax and print it and attach a statement for specific account that I need MTM election. When should I file form 3115. For year 2024 (2023 returns) I'll find cpa that can do all.
I will truly appreciate if you can help me with process and format of the election
