IRS, Tax related strategies--Traders Message Board

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Strategies & Market Trends : IRS, Tax related strategies--Traders

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To: Colin Cody who wrote (1260)	3/4/2001 5:33:58 PM
From: Dominick	Read Replies (1) of 1383

Colin: You're the expert I'm not. But a trade or business implies that I am advertising my self as a business, deducting the expenses and losses to reduce taxes and living off the income. None of which I'm doing. As you well know this is a deferred account and the IRS will get their money sooner or later. In fact they get more this way. I have a right to buy and sell property(assets), within and without an IRA and a right to make a gain or loss. That's the purpose of retirement plans, to make money for the future. I don't believe there is a specific number in the code for buying and selling so it's all subjective and argumentative. As a side note. I've been doing this for 5+ years and I was 22 days away from tax court when an appeals officer called and said he found nothing wrong with my return, if fact I was owed $200. I declined the $200 and requested my return be accepted as entered. Again, I'm not arguing with you because you have the credentials I don't. Maybe I was lucky who knows? Dominick

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