Absolutely correct. Yet, the only thing he can do via going backwards is if he had been trading through a business identity. I'm sure after he gets professional trader tax advice and his taxes are filed correctly...he'll be better prepared for the next tax year especially while working another job and trading in the same calendar year. wrbtrader
As a followup, I think I am confusing myself here. I think I am thinking of the mark-to-market accounting election - you can't retroactively apply that to the 2017 tax year if you have not already declared that by the 2017 deadline (already passed). Achieving "trader tax status" I think is a separate thing which is a choice that you can make as long as you meet certain trading activity levels. So if you have achieved the activity level needed in 2017, I do believe you can classify yourself as a "trader" for 2017 taxes. But do yourself a favor and contact GreenTraderTax or buy their tax guide for a more definitive source.