see this link for what Turbotax says to do
https://ttlc.intuit.com/turbotax-support/en-us/help-article/income/report-trader-activity-without-se...
from 4797 instructions
Traders Who Made a
Mark-to-Market Election
A trader in securities or commodities may elect under
section 475(f) to use the mark-to-market method to
account for securities or commodities held in connection
with a trading business. Under this method of accounting,
any security or commodity held at the end of the tax year
is treated as sold at its FMV on the last business day of
that year.
Unless you are a new taxpayer, the election must be
made by the due date (not including extensions) of the tax
return for the year prior to the year for which the election
becomes effective.
If you are a trader in securities or commodities with a
mark-to-market election under section 475(f) in effect for
the tax year, the following special rules apply.
• Gains and losses from all securities or commodities
held in connection with your trading business (including
those marked to market) are treated as ordinary income
and losses, instead of capital gains and losses. As a
result, the lower capital gain tax rates and the limitation on
capital losses don’t apply.
• The gain or loss from each security or commodity held
in connection with your trading business (including those
marked to market) is reported on Form 4797, Part II,
line 10.
