Hi @Rick19744 @Mike9241. Could you please help me to find my answers of my last post:
I see on 3115 ask : Tax year of change begins (MM/DD/YYYY)
Tax year of change ends (MM/DD/YYYY)
If waiting periods is 5 years, so ending period above should be 5 years later? What happens if want to stop trading after one year later?
if 2023 is the first year for me as day trader, I mean I did not have any securities at the end of 2022, and broker will send me the 1099 by the end of Jan 2024 so based on explanation posted here, I did not need to file 3115 and made election along with 2022 tax return?
For 2024 if I want to be still day trader , so form 3115 need to be filed with 2023 tax return by April 2024? (and 475(f) if I had some opened position) am I right?
As I understood, if I had opened position at the end of the first year of my trading (2023), so I will need to file form 3115 and 475(f) on tax season 2024 otherwise I do not need to file form 3115 since Adjustment is 0.
I wanted to express my gratitude for your help
