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Strategies & Market Trends : IRS, Tax related strategies--Traders
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To: Robert A. Green, CPA who wrote (72)2/19/1998 4:33:00 AM
From: Colin Cody  Read Replies (1) of 1383
 
Bob, You mentioned a couple times that "a trader's stock positions are ORDINARY ASSETS, not CAPITAL ASSETS." You indicated that "a trader's gains are ORDINARY and are reported on Schedule D."
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As you know Schedule D is for "Capital Gains and Losses". Ordinary Gain might go on other forms, like the 4797.
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Perhaps did you mean to say "a trader's gains are ORDINARY and are reported on Schedule C"?? I'm guessing this because you followed that up with "Net Schedule C income is considered EARNED INCOME."
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You made these comments while challenging my statements that "a trader holds stocks as capital assets in an active trade or business" and "Traders security activity goes on Schedule D"
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Please clarify and expand on what you are saying. Generally speaking, I stand by what I stated, and am curious as to what you are referring to.
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Colin
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