I have a related question. I made the MTM election (included statement of making an election under section 475(f)(1) or (f)(2) of the Internal Revenue Code) with my 2020 return for year 2021. I believe the next step is file Form 3115 in 2021 tax return. However, I do not want to file by this method anymore for 2021.
is it OK to file by regular method instead ?
