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Non-Tech : Datek Brokerage $9.95 a trade -- Ignore unavailable to you. Want to Upgrade?

To: B.K. Ohneis who wrote (7811)	4/11/1998 8:53:00 PM
From: Bob Sage	Read Replies (1) \| Respond to of 16892

B.K. Check out Subject 5727 Bob

To: B.K. Ohneis who wrote (7811)	4/13/1998 10:29:00 AM
From: WallStBum	Read Replies (1) \| Respond to of 16892

I have two specific questions: first, whether the buying and selling in short term is considered "in the ordinary course of business" of the day trader; second, can the day trader treat his gain as business gain rather than capital gain? Why would you want to pay ordinary tax rates rather than cap gain? Do you have investment interest expense you need to offset - only then can I see electing to reclass cap gain income to ordinary income. The thread someone here posted a few back is good. Also get yourself Ted Tesser's The Trader's Tax Survival Guide. Very very good book overall...in fact you should do an SI search using his name or the title and you'll see what people have to say about it. Anyway, you can order from Barnes and Noble at: shop.barnesandnoble.com Hope this helps. dax