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

To: Venkatesh Nakkala who wrote (244)	3/20/1998 6:40:00 PM
From: Colin Cody	Read Replies (2) \| Respond to of 1383

Venkatesh, No, a TRADER may NOT be a secondary trade or business. Makes NO SENSE to me... BUT that's what the COURTS HAVE SAID. . In order to be considered a trade or business RATHER than be just a regular INVESTOR, the taxpayer MUST be active involved in continuous, full-time, ALL-year long, trading - FLIPING stocks, RATHER: than have revenues from Interest or Dividends from them OR buy on FUNDAMENTALS and hold looking for stock appreciation. . AND the trading profits SHOULD provide MOST of the taxpayer's income. . As I have said before, Trader Status is full of pitfalls. It is not for everyone. It IS for people who spend 10 hours a day in front of several monitors, in an business office, looking for market trends and who trades say several times a week, to several times a day. . Colin