Yes, if you made the election in a previous year, you can use TurboTax to file your trading business this year.
To make the mark-to-market election for 2019 you needed to attach a statement to your 2018 tax return. There is not an actual form for making this election. The election would need to have been made with last year's return (2018). The statement should have included the following information:
- That you're making an election under section 475(f);
- The first tax year for which the election is effective (2019); and
- The trade or business for which you're making the election.
When you file in 2019 you will need the online Self-Employed or cd/download Home and Business (recommended) version of TurboTax since your trading will be reported as a business.
Please see IRS Tax Topic 429 (Traders in Securities) for more detailed information on how to make the election in 2018 effective for tax year 2019, how to report this on your 2019 return, and special requirements to be able to make this election.
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