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

To: Colin Cody who wrote (88)	2/19/1998 1:26:00 PM
From: Robert A. Green, CPA	Read Replies (3) \| Respond to of 1383

General response to Colin and others on this thread about the trader tax status. Colin's posts are based on his tax research and his opinion as a tax professional. Most tax professionals probably agree with Colin and his position is the conservative one in this regard (in our opinion). We believe the tax laws and court cases can be interpreted to allow trader status for more people and be less limiting as is implied on this thread. After we evaluate a clients facts and circumstances, intentions and other tax factors, if we believe the trader tax status position is warranted we take it in full force. In that case, we are also ready to fight to the end to defend it if necessary. Most likely this position will not be audited and why and how we take it is explained on the tax return. I apologize to Colin Cody and want to make clear that his tax research, judgments and opinions are not in question by me in regards to the limitations of the trader tax status. I draw different more aggressive conclusions from this same tax research and only taxpayers who agree with the facts, circumstances, intentions and who share my judgments for perceived risk versus reward should consider this approach. I strongly believe we have different justifiable opinions on this subject and that we are both right. Colin may disagree with our opinion and claim that the tax court cases negate our conclusions. The tax research (from RIA) that we posted on this thread is the basis for our conclusions and it makes reference and draw opinions based on the tax court cases raised by Colin. Happy trading Bob