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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: yard_man who wrote (221795)2/16/2003 8:05:57 PM
From: orkrious  Read Replies (1) of 436258
 
any advantage to being a "trader" for tax purposes?


two big ones:

1) being able to write off your expenses
2) not being subject ot the wash sale rule

note that declaring trader status on your 2002 return by April 15 just means that you have trader status for 2003.
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