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

To: Colin Cody who wrote (224)	3/15/1998 6:22:00 PM
From: mod	Read Replies (1) \| Respond to of 1383

Any thestreet.com readers here? They just published a wildly inaccurate article on trader status. See: thestreet.com I suggest writing to the author and editor, as I just did, to request they correct the article. Most serious error is they say you report all trades and therefore income on Schedule C. And that capital losses are unlimited. That you can open Keoghs and IRA's. And that all gains are treated as short-term, even if long-term. This is all incorrect. Dennis