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

To: Colin Cody who wrote (64)2/17/1998 10:01:00 PM
From: paul boudreau  Read Replies (2) | Respond to of 1383
 
O.K. Is the interest you pay on a margin account deductable? Form 4952 states that investment interest does not include interest that is from a "passive activity". That is defined as any business activity in which you do not materially participate.

I feel that stock ownership is an active investment. So what's the answer?



To: Colin Cody who wrote (64)3/1/1998 6:00:00 PM
From: DanZ  Read Replies (1) | Respond to of 1383
 
Colin,

I get the sense from your posts that in order to claim trader status, you have to derive your primary income from trading. Assuming that you meet all of the requirements for trader status, can you still claim trader status if you reinvest all of your profits and don't withdraw money from your brokerage account?

Thanks very much,
Dan


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