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Strategies & Market Trends : Income Taxes and Record Keeping ( tax ) -- Ignore unavailable to you. Want to Upgrade?

To: Brendan W who wrote (407)	1/6/1998 2:19:00 PM
From: Box-By-The-Riviera™	Read Replies (1) \| Respond to of 5810

i doubt it has anything to do with how much capital you committed to the market at any given time.... that's not relevant.... 500 short term trades.....throughout the year....consitently short term.... i.e. very short term days vs. weeks..... few if any long term holdings...... etc... my cpa would give you a 75% chance. especially if your loss claims on sched c aren't huge relative to your gains.... according to him... most cpa's make a positive reccomendation on a 30% chance. unless you have huge red flag issues...like taking an office deduction, i'd go for it. another thing to consider...as proof IMO..... is how often you turned over your orignal capital..... if it was a dozen times or more....I'd say that would help support the frequency issue...especially in tax court. and one "could" hope for a kinder more understanding IRS.... though i doubt it. The best thing that could happen with them is a major budget cut in the audit budget as they rush to focus on their unresolved computer issues and year 2000 fix. Joel