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Strategies & Market Trends : Active Internet Traders - tax questions & answers

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To: Robert A. Green, CPA who wrote ()1/23/1999 9:54:00 PM
From: Jon K.  Read Replies (1) of 31
 
Robert,

A very neat web site you got there!
I am glad to see a tax specialist for the active stock traders.

I have two questions:

1. If you qualify as a "active trader" , you can deduct your expenses in sch. C. I was wondering what happens to your income from trading stocks? Are they go to sch. D or include in sch C. as gross sales and cost of good sold?

2. Could you give a few general guide lines of who can qualify as "active trader"?

Thanks,

Jon
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