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You will need to find someone with relevant expertise to review the specifics of your situation and advise you appropriately.

I think definitely speaking with someone with expertise will be necessary.

Could you pass along one more question to your CPA friend? Claiming trader tax status must be done by the filing deadline the previous year (April 15), but there's some exception for starting with or in a business after that deadline that allows you to claim it then and not wait until the next year. Could you verify that with your CPA friend?

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