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 (1318)	4/5/2001 6:14:53 PM
From: Craig Bartels	Read Replies (1) of 1383

Year 1999 was great year for me, filed as trader status, and paid an unreal amount in taxes. This year(2000), I also filed as trader status, but came in with some losses for the year. My tax consultant told me that I could only deduct the standard 2k(or is it 3k) in losses for the year? Is that correct? I don't see how it can be, I have to pay taxes on the entire amount in 1999, but can't take the losses back the next year?? Craig

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