IRS, Tax related strategies--Traders Message Board

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

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To: Daniel Elkayam who wrote (205)	3/6/1998 10:10:00 AM
From: Colin Cody	Read Replies (1) of 1383

I agree with much of what Joel had to say... except... . Not all the losses for 1997 would be deductible. . Only trades after June 8th apply to the market-to-market election... and only 25% of the adjustment (as yet to be thoroughly defined by Congress or the IRS) is reflected in the 1997 form 1040. . There was a newspaper story in December in Barrons that has some people talking, but that story, while not technically incorrect, left out enough data to mislead many people into thinking that there was something to be had that is a lot better than reality. . I also do not believe that self-employment taxes are applicable at the present time. . Colin

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