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

To: Spots who wrote (22)2/16/1998 12:24:00 PM
From: Colin Cody  Respond to of 1383
 
Spots, if you made a couple thou trading, you are generally required to file.

You are confusing passive or portfolio income. If a retired person has $3,000 of interest plus her Social Security check, then she does NOT need to file.

But if she is a TRADER or an INVESTOR who made a couple thou, she likely must file...

Colin



To: Spots who wrote (22)2/16/1998 3:38:00 PM
From: MajorD  Respond to of 1383
 
Thanks - all - for pointing me in the right direction.
the standard deduction should cover me for '97. Thanks again!
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