Buy and Sell Signals, and Other Market Perspectives Message Board

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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives

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Nov 7 4:00 PM EST

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To: Bender who wrote (94494)	7/14/2017 9:55:04 PM
From: Wayners	4 Recommendations Read Replies (3) of 218583

Sorry to butt in here GZ, I use futures. Why? Leverage and tax advantage a lot more than you can get with any ETF. The tax advantage is that when you file your taxes, futures trades, all of them and there maybe thousands in a year, its treated with one line on a tax worksheet. Broker gives you the numbers AND every daytrade is treated tax wise as 60% long term gains and 40% short term gains. With stocks and ETFs you have to depend on your broker to give you a statement of all the trades in the IRS form format adjusted for wash sales...all of them!!! I used to do that, and It really sucked but got better. I used to put together an Excel spreadsheet and attach it to the schedule D and actually write, had over 1000 trades last year and these are my records and not manually fill out the form. They accepted that. Then brokers, at least mine gave out (download .xls) pretty much the real form you need to file with wash sales adjustments...finally getting easier. Obama is the one that made you start providing proof of your basis price on stocks, ETFs and options. Before that it was the honor system. Yep. I hope you are a young person, always trying to help.

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