@stech
As has been noted, the two schedules will flow into your tax return just like any other taxpayer.
Your Schedule C will reflect losses and flow to schedule 1 which will in turn flow to page 1 of the 1040.
Any losses on Schedule D will flow to page 1 of your 1040.
Keep in mind, that just because you claim to have TTS, your capital gains and losses will be treated just as any other taxpayer. This means the maximum capital loss you can take in any year is $3,000 (should your capital losses exceed your capital gains). Any remaining capital losses will be carried forward.
You should also note that having a Schedule C with losses increases your scrutiny of IRS algorithm for audit. Doesn't mean you will get an audit, it just increases your chances.
Make sure you understand what the IRS looks for in a trader (TTS) and make sure you have this documentation ready should the IRS question your trader status.
*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.
