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Strategies & Market Trends : IRS, Tax related strategies--Traders
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To: Colin Cody who wrote (598)12/5/1998 1:22:00 PM
From: Mark Z  Read Replies (1) of 1383
 
Colin -

If I'm correct you recently opened an account w/MB Trading and hopefully!) are familiar w/their commission structure. Let's assume I make 25 trades in a month. I get a $1 rebate per trade and $200 knocked off my data fees. Tax-wise, how are these handled?

I'm assuming the $1 per trade rebate is applied to lower the commission on a per trade basis. I.e. if I gross $200 on a trade and would have netted $154.10 (assuming $22.95 commission each for buy/sell) I now net $156.10. Or does the IRS consider this 'earned' income reportable as 1040 income, 'earned' by virtue of my trade volume?

So far as the data fees, do I amortize whatever rebate I get over each trade made in the month, given that the rebate is a function of the # of trades, or just reduce my Schedule A expense for data fees or, again, is this 'earned' income?

Thanks in advance for any light you can shed.
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