Income Taxes and Record Keeping ( tax ) Message Board

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Strategies & Market Trends : Income Taxes and Record Keeping ( tax )

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To: kaz who wrote (2028)	3/21/1999 11:01:00 AM
From: Gorak Shep	Read Replies (1) of 5810

If your expenses are things like monthly data fees, you can probably just add that to your first trade of each month on the schedule D I believe this is absolutely wrong. You cannot treat such expenses this way. If you have other expenses to write off, you'll have to have some income on your schedule C to write off against, at least I think that's correct. I believe this is also wrong. If you are filing as a Trader, your capital gains go only on Sched D and your expenses go on Sched C with no income there. Yes, this is unusual but it is the way it is done.

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