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

To: Colin Cody who wrote (420)	1/8/1998 10:39:00 AM
From: Box-By-The-Riviera™	Read Replies (1) \| Respond to of 5810

colin....my cpa advises in some years one might "qualify" for trader status and in others not....otherwise...... frequency, number, and full time requirements are in agreement with his opinion... of course re: market to market......it's a chicken and egg....first trader status....then mark to market election. Joel btw: what do you charge...... :)

To: Colin Cody who wrote (420)	1/8/1998 12:17:00 PM
From: Brendan W	Read Replies (2) \| Respond to of 5810

Are you saying the test is not just income but also unrealized growth? ("..these are bought expecting them TO GROW"). The rational INTENT would be for the return on both portfolios to be infinite. The realities of trading are, however, you're glued to a monitor watching prints, bid/ask sizes, etc. That's where the 40 hours a week of work go if you're generating 1000+ tickets a year. I was hoping not selling long-term winners would be the cinch. Please email contact information to brendan@frii.com.