Recent content by FB2020

In the guide that you have, did it have examples / sample of a form 3115 ? Need a sample of just that.

https://www.taxesfortraders.com/

Any one please??

Agreed, but as long as someone meets or exceeds the criteria (i know "loosely defined"), they should be ok I guess. if one can run it by a CPA also, that should provide confirmation.. Green states on his web site to take advantage of new 2020 NOL carryback rules, so I imagine he must be...

So someone making money as a w-2, cannot have a valid side business?

Why would they deny for someone being a w-2 programmer? As long as you have enough trades and are spending enough time in this "business".. 4 hours a day / 4 days a week / 720 trades a year is what I read as the general benchmark to qualify

I believe Green's website says that MTM election date is now extended too. Quoting from that site: https://greentradertax.com/april-15-tax-deadline-moved-to-july-15/ April 9: IRS Notice 2020-23, dated April 9, states on page 7: “Finally, elections that are made or required to be made on a...

OP - I believe you can just manually attach a statement similar to what 4797 has. Most brokers should provide that already. They should really only care about totals. Yes, foot notes etc. would be good to add. Also, since you guys seem to be familiar with MTM, could someone please respond my...

I need to do section 475 for 2020 (have losses for 2020). Per Green trader's website, the deadline for applying for sect 475 has also been extended to july 15th. Does someone has the language for sole prop using TTS? no LLC/entity. Also, I need to elect this for both securities and section 1256...

I need to do section 475 for 2020 as well (I have losses for 2020). Per Green trader's website, the deadline for applying for sect 475 had also been extended to july 15th. Does someone has the language for sole prop using TTS? no LLC/entity. Also, I need to elect this for both securities and...