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Get your taxes done using TurboTax
@allednam wrote:
My Etrade records should be enough to show no nefarious reason for not qualifying and obviously would need to file for this MTM election.
It does not matter what your records show, you are supposed to file the MTM 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.
Since you did not file the election, under Section 475(f), you have to treat gains and losses from sales of securities as capital gains and losses and report them on Schedule D.
‎November 11, 2021
7:56 PM