Enhancing Profits Through Incorporating Message Board

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Non-Tech : Enhancing Profits Through Incorporating

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To: SE who wrote (40)	3/29/1997 8:26:00 PM
From: Little John	Read Replies (1) of 88

Trader status and expense deduction Reading this thread has raised a number of questions. What effect does it have on trader status and expense deduction if one trades mainly in a custodial IRA account where all income is deferred until taken out of the account? In my logic it seems that the IRS might object to a expense deduction because all of the income is deferred. Also there might be only a few taxable transactions to report even though there may have been many non-taxable trades in the IRA account. A case could be made for apportioning of the expenses between the tax deferred account and a taxable account. What position would a CPA or a tax expert take on the above issues or does anyone have direct experience with these issues? I would welcome a few answers after April 15th. Thank you, John

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