@GeorgeM777 as a day trader, the taxpayer would only reflect expenses on Schedule C. Capital gains, losses are still reflected on form 8949 and Schedule D.
If the taxpayer has trader tax status (TTS) AND makes a timely Section 475 election, those gains and losses would be ordinary and then be reflected on form 4797.
*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
