IRS, Tax related strategies--Traders Message Board

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Strategies & Market Trends : IRS, Tax related strategies--Traders

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To: Robert A. Green, CPA who wrote (94)	2/19/1998 1:40:00 PM
From: peter michaelson	Read Replies (2) of 1383

Thread: Re: Trader Status - So much smoke I can't see the forest, let alone the trees. Let's assume John Doe decides to use trader status. Now, is the following agreed upon? Expenses from trading activities are reported on Schedule C. No income is reported on Schedule C. Capital gains and losses are reported on Schedule D. The sole advantage of trader status is avoiding the 2% miscellaneous deduction and other Schedule A limitations. The End.

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