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Politics : Formerly About Advanced Micro Devices
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To: J_F_Shepard who wrote (580778)8/12/2010 10:29:54 PM
From: Brumar89  Read Replies (1) of 1577177
 
Naturally you were just imagining that there are loads of hedge fund managers and option traders who are all not paying any taxes on their income ..... fact is, if there are any such, they're running a massive risk.

This income would be taxable, impossible to hide from auditors, a sure catch on audit.

I think the trades you talk about should be reportable on 1099-B's but since I don't do those things or have anything to do with that business, I can't speak from experience. Regardlesss of whether they appear on 1099-B's however, that income IS taxable and only an idiot would think they could get away with not reporting it.
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