IRS, Tax related strategies--Traders Message Board

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

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To: Colin Cody who wrote (565)	11/18/1998 11:31:00 PM
From: Kaye Thomas	Read Replies (1) of 1383

There are two different articles on CBS MarketWatch dealing with traders, both filled with misinformation. Not really the author's fault, as she relied on "experts" who should have known what they were talking about. At one point I was wondering where someone got the idea you can't be a trader if you trade for your own account; now I know. NB: there's plenty of authority for the proposition that you can be a trader while trading for your own account. I think the point that confused the "expert" is that there is authority stating that you can be an investor even if you work at your investments full-time. But the distinction isn't whether you're doing it for your own account; the distinction is whether you're trying to capture short-term swings (as traders do) or benefit from longer-term appreciation, dividends and interest (as investors do). My article on the distinction between traders and investors appears at: fairmark.com Kaye Thomas, author Fairmark Press Tax Guide for Investors fairmark.com

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