Thanks fanfare. So that means it's acceptable to IRS if I file Form 4868 by April 15 and attach 475 statement. Are we 100% sure?
If I efile my return already, just realized there is form 8453 'U.S. Individual Income Tax Transmittal for an IRS e-file Return' which can be possibly be used? Though the form does not specifically mention 475 statement in it. If this can be done, it would be a simple process: efile in turbotax and manually file form 8453 with 475 election statement. thoughts please?
Also, are we 100% sure if IRS has accepted similar forms in the past and would not reject 475 statement?
Regarding my other question:
b) Is the below statement of 475(f) election complete and acceptable by IRS or do i need to clarify anything else?
Statement showing 475(f) election for the year 2021
Names of self and wife
SSNs of both
Address:
- That I am making an election under section 475(f);
- The first tax year for which the election is effective is 2021 and
- The trade or business for which I am making the election: I am making Mark to Market election only for my Stock Options trading business. My long term investments are not part of MTM election as those are held for investments and not trading. "
Appreciate your response.
Thanks.
Jagan.
