Trader J's Inner Circle Message Board

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Strategies & Market Trends : Trader J's Inner Circle

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3:59 PM EST

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To: Baghul who wrote (97)	11/3/1998 12:56:00 AM
From: Trader J	Read Replies (1) of 56535

Baghul, Check greencompany.com It is a very good site related to trading and taxes. You may elect a mark-to-market accounting status which is a new law for individual traders if you trade often and consistently enough. There are plusses and minuses to it though. It does eliminate the wash sale rule. You also cannot deduct your full losses the first year, must prorate over the next four. Once you file trader status, it is a lifetime filing and you cannot go back. Many of the laws regarding this filing have not been finalized and could bite you in the butt retroactively when they are. Be careful. I have elected not to file this way. I have decided instead just never to lose money on a trade again. :0) Jeff

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