form 3115
Last tax year I made a timely mark-to-market election under 475(f) for investment trading. I meet the requirements and this is a regular, substantial activity. This year will be my first year under that accounting method and will need to file form 3115 (actual application of change of accounting method). Most questions on 3115 are straight-forward, however question 7a&b regarding audit protection is not. Reading the IRS pub, I assume that audit protection applies (question 7a) and since it is Yes question 7b must be checked.
--Is 7a correct (yes)?
--What is checked in 7b?