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You might need a CPA for your taxes but definitely not for this reason. Others have given you the answer as this is a very basic issue that any tax software can handle.

If you find a sample from anywhere - it would be great if you can share. I will do the same if I can find it.

Thank you @BMK. I sent in the M2M election statement for my LLC last year so set on that. I have to send in Form 3115 this year with my 2020 tax forms. I already have calculated my 481 adjustment - but just need to make sure I fill out Form 3115 correctly. I know the biggest part is 481...

Thank you for going through all this trouble to get answers for me.

Thank you @BMK Mailing it in is not my 1st choice - but I just thought if I cant figure out how to attach this Form 4797 that is generated by Tradelog and also Form 3115 (For changing accounting to M2M), then I have no other option but to mail it in. If there is a way to attach it to TurboTax...

@BMK Its a LLC taxed as a S-Corp. I am the only employee

@BMK thank you for your input. I forgot to mention that this is not for my personal taxes. Its for the LLC. Not sure if your recommendation changes. Do you know which tax software will let me attach. I have always used TurboTax for my personal taxes though not sure its best for trader taxes...

I have TTS and have been trading for a while but never went for M2M accounting. For 2020 I changed to M2M and called IB to tell them about it. I just got my 1099 and its the same way I used to have my old 1099s - with all the wash sales in there. With 1000s of transactions, trying to figure it...

Maybe I can buy 2012 guide from you :)

Thank you

I wish I could get those - even though not completely relevant today but will be helpful. I bought his guide last year and it has nothing in it.

Does anyone know if Green still sells sample trader tax returns? Someone on another thread said that he used to atleast.

Capital gains in not 10% across the board. Also if it was bought and sold in short term - it doesn't even qualify as long term gains that have preferential treatment.

If you have already had those gains, I am not sure how you can go back and form an entity to account for these under the entity. You can sure form an entity for any trading you will do going forward but not sure how you can do what you are trying to do. Correct me if I am wrong as I could have...

Doesnt seem like he sells those anymore, atleast I cant find them on his website. That would have made life so much simpler. Thanks anyways

It also depends on which state you are in. In NY you have to complete those for NY State, so you pretty much have to for Federal taxes.

Where can you get these sample returns?

This was just a list of different programs. It would have been more useful to understand how traders can take advantage of different programs.

So I decided against electing M2M last year (really should have) but definitely going to do it for this year. I have the statement that needs to go with 1065 but Form 3115 that goes later is confusing. What do I fill out on that form? Also, I understand with M2M you report on 4797 Part II - do...

Does anyone have any input on this?