Does anyone have first hand experience trading as LLC but WITHOUT TTS? Is there any tax benefit at all WITHOUT TTS? I was told by a CPA TTS is not going to happen without the 720 trades and 75% frequency. I'm never going make 720 trades in a year and wondering if it's worth it to setup LLC WITHOUT TTS. I'm looking to add some legitimacy to what I'm doing since I'm trading full time. Thanks.
Other than the "legitmacy" you think you want/need, and perhaps certain protections from creditors if set up and operated properly, no. And not to be overlooked, higher data fees in many cases, annual entity upkeep costs, and higher accounting and tax filing costs in time and money to name a few other considerations. Keep in mind, 720 trades means 720 sides. And the IRS does not have a bright-line criteria test.
Does IRS honestly care about the ways you entered or exited the trades as long as you hit 720? For example, you can make 1 trade for 100 shares or you can make 100 trades for 1 share. The position is the same but it's easier to hit the 720 if you do the latter.