Hi, I was a little confused regarding mark to market as far as the deadline for making that election. I began day trading in Feb 2023 , but did not file anything regarding mark to market yet and it is now Dec 2023.
Can I still make that election when I file my 2023 taxes, in 2024 tax season by due date?
or is it too late?
What can I do? I have a big loss.
Can I file this loss for 2024 tax return if I missed the due date of this election?
Please give me the year and due date based on my dates I mention above.
so please do not say : A trader must make the mark-to-market election by the original due date (not including extensions) of the tax return for the year prior to the year for which the election becomes effective, this made me confuse in terms of time please please just give ma an example by my year which I started day trading and due date time.
Also how about extension, if I want to apply for.
Again please give the dates and year examples for extension.
I mean if I want to extend my 2023 tax return for Oct 2023 what happens?
I am an induvial not a company how can I file Mark to mark election? What is the form number? Please help me how to fill it out as an individual.
Should I attach something to main form of this election?
Can I e-file by TT or should I use a new software?
When I consider on Sch C all my expenses (no commission... ... ) what would be my business code ?
Thanks a lot
