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

To: Ilya k. who wrote (157)	2/24/1998 10:59:00 PM
From: Box-By-The-Riviera™	Read Replies (1) \| Respond to of 1383

Thank you for your experience based response re: trader status... First time someone, who has been filing in this manner, has posted a picture of what one (you) "trader" looks like on a tax return. I found it very useful..... so.....you have enough computer power to exceed the 18,000 one time depreciation right off......man, what kind of trading room are you running in your shack? My experience/(advice received) was much the same as what you outlined. Thanks for your input.... Joel

To: Ilya k. who wrote (157)	2/25/1998 12:42:00 AM
From: Colin Cody	Respond to of 1383

Ilya, You wrote: " I don't file quite the way suggested in the thread as my experts have said that the titles of each Schedule are less important than the substance of what one puts on them." . What do you mean by "the titles of each Schedule"??? I agree that Substance over Form gets you through audit... . In what ways do you (or your advisors) recommend filing in a manner different than suggested in these threads?? Of cource within these threads it has been suggested to file several differnt ways already! (g) . You aren't saying you report revenues from sales of your stocks (capital assets) on your Schedule C, are you??? You said "As for losses on Sked C, I can only say that by the time one acquires multiple PCs, each with multiple monitors..." One generally should ALWAYS have a Sch C loss. One exception Might be if a Trader was also selling a service, say real-time Trading Information or giving Trader Lectures. . Colin