@GeorgeM777
Thank you for taking the time for your response.
Would I be submitted 4797 although the trading was not in the name of the business, it was an individual brokerage account in my name? There were not gains/losses/profits for the business in 2022. I see that 4797 is required when making MTM election, but I am confused about the business part since 2022 was not associated with the business.
The S-corp due date for MTM election is March 15th, different from the due date for individuals. If I am filing it on my income taxes because S-corp is not a legal entity, why do they have this due date and who would be using it?
So to clarify, I am submitting the taxes for my S-corp:
Form 1120-S
For my income:
Income tax return
MTM statement with name of S-corp LLC
Form 3115 with tax return and to IRS national office
Form 4797
Thank you so much
