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New Member
posted Feb 4, 2021 8:24:02 AM

I would like to know which product to use for filing as "Mark to Market" Active stock day trader. I believe the forms to use would be IRS form 4797 and 6781?

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3 Replies
Expert Alumni
Feb 7, 2021 11:25:54 AM

You can use either the Self-Employed in TurboTax Online or the Home & Business TurboTax Desktop for your activities as a "mark-to-market Active stock day trader.

Returning Member
May 7, 2021 6:20:16 PM

Where do I select the cost basis Mark to the Market for tax year 2021 on form 4797?

Expert Alumni
May 10, 2021 7:35:00 PM

When you file your first securities business return, you must elect an accounting period. On the Form 3115 filed for the year of change, a taxpayer should indicate that the taxpayer has filed the statement in compliance with section 5.03(1) of Rev. Proc. 99-17. See Form 3115 instructions page 4 right hand side for mark to market. You can file it with your return.

 

@mccooney