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Trader tax status and Turbotax?
I am wondering if it is possible to use the online version of Turbotax if I am a day trader? It doesn't seem possible. Will turbotax ever create this functionality?
I started day trading last year (thanks, stay-at-home orders!). I have incurred numerous expenses (purchasing books and subscriptions) as a result and would like to deduct them as part of this endeavor.
Please note: I am not asking about the mark-to-market election. I do not need that as I trade futures, and they are already marked-to-market every day. Nor am I asking if I constitute a day trader. I know what the rules are and believe I qualify.
I am simply wanting to know if the online version of Turbotax does this. Do I have to purchase the desktop version? Ugh.
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‎January 17, 2021
10:10 AM