IRS, Tax related strategies--Traders Message Board

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

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To: mod who wrote (720)	2/14/1999 9:28:00 PM
From: Colin Cody	Read Replies (1) of 1383

Mod, To use Sec 179 in a given year you MUST have income from any trade or business to "offset" it against. What is being skirted over here today is the definition of "income from any trade or business". Having a loss showing on a Trader's Schedule C does not mean one necessarily has no "income from any trade or business". This is a GRAY AREA that is best discussed with one's personal tax advisor who is familiar with all aspects of the taxpayer's income. Colin

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