IRS, Tax related strategies--Traders Message Board

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

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To: WallStBum who wrote (304)	5/23/1998 10:39:00 AM
From: Adivino	Read Replies (1) of 1383

Hi I am new to this thread and find it very informitive. I retired on Dec. 31 1997 and am 51 years old. I have been trading stocks for about 20+ years. At the end of February I got into some day trading and investing on a serious basis. Within the 2 1/2 months I have accumulated close to $50,000.00 in short term capital gains. I know I have to do something serious to try to reduce my tax basis, I have talked to my CPA and have set up an appointment to discuss what I should do. My wife and I right now do a quarterly estimated tax return because she receives no taxed commissions from her employment. I trade from my home on a outdated 166 computer and I call a discount broker for buys and sells. I would greatly appreciate any advice anyone would have. Thank You

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