It depends. If you are using TurboTax CD/Download Premier, then you can use that version for your Day Trader business. It also matters whether you decide to be a Day Trader in securities or whether you choose to be an investor. As a Day Trader, using the Online version would require an upgrade to TurboTax Self-Employed.
Day Traders can choose to use the mark-to-market rules, investors cannot.
If a Day Trader doesn't make a valid mark-to-market election under section 475(f), then he or she must treat the gains and losses from sales of securities as capital gains and losses and report the sales on Schedule D, Form 1040 (or 1040-SR). And the required Form 8949, Sales and Other Dispositions of Capital Assets as appropriate. When reporting on Schedule D, both the limitations on capital losses and the wash sales rules continue to apply.
You must decide how you want to report your income, as a Day Trader or an Investor.
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