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Strategies & Market Trends : IRS, Tax related strategies--Traders -- Ignore unavailable to you. Want to Upgrade?

To: Street Walker who wrote (12)	2/13/1998 10:32:00 AM
From: NYBellBoy	Read Replies (1) \| Respond to of 1383

Street Walker & all -- <get the book by tesser "trader's tax suvival guide" just mark on Schedule C "trader status" and list all expenses. then on sch d list all your gains and losses. sched c will be a loss on the 1040 main form since it's all the expenses.> This tactic was not in Tessler's first book. In first book, just mark Schedule C as a Trader. I plan on calling Ted Tessler soon. I hope to be a Full Time Day Trader. I have visited All Tech in Montvale, NJ and another firm in Mid-town Manhattan. I will also contact Ken Wolf. :) BellBoy

To: Street Walker who wrote (12)	2/15/1998 6:31:00 PM
From: MajorD	Read Replies (2) \| Respond to of 1383

I hope someone can answer a simple question... I'm a full time college student, (with a boat-load of loans) and ZERO income, but I made a couple thousand dollars trading in 1997. DO I have to report that to the IRS? and get pegged with a 39% tax ??? I really don't have $50 I can spend on that book so if anyone can give me hint I'd really appreciate it -Thanks in advance! MARK

To: Street Walker who wrote (12)	2/16/1998 7:35:00 AM
From: Box-By-The-Riviera™	Read Replies (2) \| Respond to of 1383

Tesser is a tax protester and IMO most of his strategies won't stand up to an audit...(i.e. you'll be paying for representation at that audit). I am very sorry I actually paid for the book. Caveat Emptor. As to trader status and what you said about it.........it is far more complicated than what you wrote and what Tesser writes in his book...most people would not qualify at all for trader status...an audit being the true test of course. Joel