I am familiar with the referenced article inside and out. My question is how to make this election in PROSERIES. There is an answer to how to make the election in Proconnect, but not Proseries basic or professional. This is a software how to question, not a general tax how to question.
Attach a pdf statement to return with the following info:
A trader must make the mark-to-market election by the original due date (not including extensions) of the tax return for the year prior to the year for which the election becomes effective. You can make the election by attaching a statement either to your income tax return if filed without an extension or to a request for an extension of time to file your return. The statement should include the following information:
- That you're making an election under section 475(f);
- The first tax year for which the election is effective (that is, the tax year for which a timely election is being made); and
- The trade or business for which you're making the election.