To make the mark-to-market election for 2017 you need to attach a statement to your 2016 tax return. There is not an actual form for making this election. In order to make this election you will need to print and mail your income tax return in 2016. The statement should include the following information:
- That you're making an election under section 475(f);
- The first tax year for which the election is effective; and
- The trade or business for which you're making the election.
When you file in 2017 you will need the online Self-Employed or cd/download Home and Business version of TurboTax since your trading will be reported as a business.
Please see Tax Topic 429 for more detailed information on how to make the election in 2016 effective for tax year 2017, how to report this on your 2017return, and special requirements to be able to make this election.
https://www.irs.gov/taxtopics/tc429.html
