I understand I need to "Mark to Market" the trading accounts and that there is NOT capital gains. I think all securities sales need to be recorded - I have over 1,000 transactions.
turbo tax deluxe CD/Download is sufficient if you are filing as sole proprietor.
TurboTax doesn't have the notion of Professional Trader.
You have to do the reporting in Forms Mode and that's why you need cd/download.
Yes, when I explored this last year before I officially claimed the designation with the IRS, TurboTax did not treat Security and Option buy/sells as an item that one "inventories of merchandise" that one buys and sells, but rather treated securities in the classical sense. Trading is buying securities at one price and hoping to sell them at a higher price (buy side simplification) much like of the mythical "widget."
I did not see that Turbo Tax could do that. It automatically stuck them in the wrong place. I forgot which schedule form that is.
I get the download of transactions - and there will be over 1,000 over the course of 1 year. Where would all this things go? WHat form?