Election as a trader

[Skeemo]

If a trader in securities wants to elect to trade as a business, but does NOT want to make mark-to-market election, is any form or application necessary, or does he just start filing using Schedule C for expenses?

[solomon]

If a trader in securities wants to elect to trade as a business, but does NOT want to make mark-to-market election, is any form or application necessary, or does he just start filing using Schedule C for expenses?

One does not just elect to be a trade or business when buying and selling securities. To be a trader depends upon the facts.

[Skeemo]

Circumstances for traders

Yes, I am aware of this, and individual DOES meet the circumstances (seeks to profit, activity is substantial, continuity and regularity, etc.) IRS outlines. My question is, does he just start filing a Sch. C for expenses, or is some formal IRS election necessary if he is not electing mark-to-market.