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Strategies & Market Trends : IRS, Tax related strategies--Traders
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To: Robert A. Green, CPA who wrote (38)5/22/1998 5:59:00 PM
From: Monty Lenard  Read Replies (1) of 1383
 
"The IRS audits you and takes the position that you are a trader, not an investor and you are not entitled to the long-term capital gains rates. What do you do then?"

A trader is considered to be in a trade or business that produces capital gains and losses rather than ordinary income and losses. The governing factor is whether the securities sold were capital assets in the hands of the taxpayer and the length of time the capital asset is held.

Monty
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