IRS, Tax related strategies--Traders Message Board

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

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To: Esteban who wrote (790)	4/12/1999 7:56:00 PM
From: Colin Cody	Read Replies (1) of 1383

Esteban, I'd suggest to discuss these specific issues with your own tax-advisor who is appraised of all the facts. Here's a few comments as I leave this discussion: The accounts are in one partner's name for reasons unrelated o money supply. General Motors is a real trade or business. General Motors does not run the trade or business through the checkbook / account of the president. I don't believe a bona-fide trader status operation should do so either. They each assume real and equal risk of gain or loss. "so what?" "at risk" has NOTHING to do with qualifying for trader status. The "at risk" rules are something entirely different. declaring trader status and MTM remain for 1999, Dead-line for 1999 is April 15th, no excuses! Good Luck! Colin

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