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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 (436)	1/14/1998 6:40:00 PM
From: Stan Harrison	Read Replies (2) \| Respond to of 5810

Colin, I'm new to Silicon Investor and a relatively new day trader. I quickly realized that I may have over 1,000 transactions for a year. My question is "Do you show each and every transaction on a supporting schedule for Schedule D? It's my understanding that if the income is reported on Schedule C, there WILL be Self Employment Tax whereas if the income is reported as a capital gain on Schedule D there will NOT be self employment tax. However, if the sales are reported on Schedule D, it's my understanding that they would have to be listed individually. That's not a problem thanks to my computer program but I'm just trying to find out if my understanding is correct. Any insight would be greatly appreciated. Thanks in advance. Stan