something not mentione in the links. if the person is already a trader, then they must also file form 3115 for a change in accounting method.
1) no. the return will need to be paper filed and file it early enough so the 4/15/206 deadline is not missed
2) yes
3) each trade is supposed to be reported separately on form 4797 line 10. Some preparers ignore this. Turbotax will not be able to import the transactions
4) dom't know.
with 475(f) there are no wash sales but the cost is that the trades are treated as ordinary income or loss. not really that bad since a trader would normally have most short-term trades.
