The MtM election is just the election and thus, you would not be listing your MtM account versus your investment accounts in the actual election statement. As mentioned in prior posts, it is prudent to have a separate account for your MtM trading and other account(s) for your investments, i.e., non MtM trading. Moreover, you may not want to include in your MtM trading account any Section 1256 contracts as such contracts get favorable capital gains rates--regardless of holding period--which would be lost if effected in your MtM trading account.
Form 3115 is filed with your tax return. Thus, if you elect MtM trading status for 2023, you will file Form 3115 with your tax return for tax year 2023--which you will probably file sometime in early 2024 before the April 2024 deadline. You may have to list separately your MtM trading account particularly when you complete Part II of Form 3115. You will also have to complete, among other things, Part IV which relates to your section 481(a) adjustment.
@Srk84
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