Trading For A Living Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Trading For A Living

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Eric P who wrote (489)	6/25/1998 2:10:00 PM
From: Robert A. Green, CPA	Read Replies (1) of 1729

Traders' Special Tax Rules, Reporting Strategies and Tax Benefits. If you are in fact "Trading For A Living" then you probably qualify as a "Trader in Securities" as defined by the IRS. This is a special tax status with many recent tax law changes. You may be able to deduct net trading losses without the capital loss limitation of $3,000 per year. Hopefully, you have big trading gains and not losses. As a Trader in Securities you can deduct all and any trading business expenses against your income of any kind. You are not limited like an Investor to itemized deduction haircuts, investment interest limitations, alternative minimum tax, wash sale rules and a few types of investment expenses. There is a lot of confusion on the message boards about this tax status. The many changes to the rules are fairly new, all the regulations have not been written, and qualifying as a Trader has changed a lot with the ease of entering the business on the Internet. If you are now in the trading business you must learn these tax rules and you might as well take advantage of the benefits and avoid the pitfalls. Visit greencompany.com and learn the Trader Tax Rules rules. Ton's of other useful tax and other links as well. Don't let taxes take a big bite out of your market gains and get some relief from market losses. We specialize in preparing tax returns for Traders in Securities. We also consult many Traders who prepare their own taxes with tax software programs. We wrote and published a popular tax guide for Traders in Securities. If you need help or just the guide or other free tax information comes visit our Web site or email us. Some may feel my posting is commercial and I apologize to those on this message board who feel that way. Most message board users have thanked us many times for this message as they are in great need of this useful information.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next