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Not applicable
posted Oct 28, 2024 5:59:17 PM

1st year Mark To Market day trader, how to fill the Form 3115 Part II 7a? "No" or "Yes"?

Form 3115 Part II

7a. Does audit protection apply to the applicant's requested change in method of accounting?

      If "No." attach an explanation.

 

I read the instructions several times but could not get it.

My guess is the answer could be "No". Then an explanation is required. What will the explanation look like?

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2 Replies
Level 15
Oct 28, 2024 6:16:15 PM

Level 15
Oct 28, 2024 6:25:09 PM