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To: PitBull who wrote (4227)	12/8/1997 11:40:00 AM
From: Sultan	Read Replies (1) \| Respond to of 120523

Apparently the rules have changed and this week's Barron's have some sort of article on it. You might check it out.

To: PitBull who wrote (4227)	12/8/1997 1:58:00 PM
From: b-witch	Read Replies (1) \| Respond to of 120523

E, move to the bottom of this page to the white box, type in "taxes" and/or "daytraders". You may find some answers at the sites that appear. Good luck!...mitzi

To: PitBull who wrote (4227)	12/8/1997 4:33:00 PM
From: toothdock	Respond to of 120523

enthusiastic....here is the IRS stand on daytrading: You cannot treat the expenses of daytrading as business deductions, the way a professional stockbroker can. The actual IRS ruling comes from the case of Higgins v. Commissioner, 312 US 212. That decision basically states that the activities of owning a stock and buying and selling one's own account, are not a trade or business (as per IRS sec. 61) , regardless of the amount of time devoted to the activity. Therefore, using IRS Code Sec. 61 trade or business is not allowed. Also see Commissioner v. Groetzinger, 480 US 23. This case would be the best argument you could make if you did try to deduct expenses of trading. Hope this helps! trade with #profits toothdock