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Pastimes : ASK Vendit Off Topic Questions

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To: monu who wrote (11956)	5/1/2000 5:15:00 AM
From: Vendit™	Read Replies (2) of 19374

monu Assuming that you are not trading in a 401K of the equivalent and in order to shift your trading profits from a classification from short term capital gains to a lessor taxed status you must file two forms with the IRS on or prior to April 15th in order to take advantage of new said status. A form which declares your filing status as "trader status" and another which changes your accounting procedures to "mark to market". After this has been done you will be treated more so as a small business and taxed accordingly such as being allowed to take certain expenses as write offs against your earnings. I own several small businesses so Im not helped by this IRS rule but most of you would be. See the link below which will explain in detail what Ive just said. greencompany.com Reid

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