Dave,
Agreed. But, for me, the deductions were very significant. Several computers (expenses as Section 179 or whatever), software depreciated, books, many subscriptions to chatrooms, exchange fees, data fees, travel and seminars, phone lines and ISDN charges, etc. Be creative, but don't cheat. My expenses for last year probably exceeded $20,000 or so.
Check around here, read what you can, or, better yet, get with your CPA or other tax advisor. You should have one anyway if you're trading a lot, and there is potentially a lot at stake.
Good luck,
Bill
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