Apply for trader status? Generally, the request had to be filed with your 2023 return or extension that was filed on or before 4/17/2024. You can apply for 2025, by filing the request with a timely filed return or extension for 2024. A request to make a late election may be denied. See this thread.
https://www.currentfederaltaxdevelopments.com/blog/2021/11/13/request-to-make-late-475f1-election-de...
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If a trader doesn't make a valid mark-to-market election under section 475(f), then he or she must treat the gains and losses from sales of securities as capital gains and losses and report the sales on Schedule D/ Form 8949 as appropriate. When reporting on Schedule D, the limitations on capital losses and the wash sales rules continue to apply. A trader that makes a timely mark-to-market election treats the gains and losses from sales of securities as ordinary gains and losses (except for securities held for investment) that are reported on Part II of Form 4797.
The election statement must be included with the return or with the extension. The statement must have included the following information.
That you are making an election under section 475(f)(1) or (f)(2) of the Internal Revenue Code.
The first tax year for which the election is effective.
The trade or business for which you are making the election.
If your method of accounting for the year the election is to be effective is inconsistent with the mark-to-market election, you must change your method of accounting for securities under Revenue Procedure 2023-24 (or its successor), available at IRS.gov/irb/2023-28_IRB#REV-PROC-2023-24 (section 24). Revenue Procedure 2023-24 requires you to file Form 3115, Application for Change in Accounting Method. Follow its instructions. Enter “64” on line 1a of the Form 3115.
Once you make the election, it will apply to the election year and all later tax years, unless you get permission from the IRS to revoke it. The effect of making the election is described under Mark-to-market election made (PUB 550)
https://www.irs.gov/pub/irs-pdf/p550.pdf
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as to your 4797 question, Turbotax can't import to form 4797
the instructions say
Securities or Commodities Held by a Trader Who
Made a Mark-to-Market Election
Report on line 10 all gains and losses from sales and
dispositions of securities or commodities held in
connection with your trading business, including gains and
losses from marking to market securities and commodities
held at the end of the tax year (see Traders Who Made a Mark to
Market Election, earlier). Attach to your tax return
a statement, using the same format as line 10, showing
the details of each transaction. Separately show and
identify securities or commodities held and marked to
market at the end of the year. On line 10, enter
“Trader—see attached” in column (a) and the totals from
from the statement in columns (d), (f), and (g).
so how do you e-file? It would seem you can't. There is a form 8453 to submit details of security trades reported on form 8949 but it doesn't cover form 4797 and the instructions for the form specifically state its not to be used for forms not listed.
the statement in columns (d), (f), and (g
