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Strategies & Market Trends : Trading For A Living -- Ignore unavailable to you. Want to Upgrade?

To: Colin Cody who wrote (140)	5/22/1998 4:22:00 PM
From: Shoot1st	Read Replies (3) \| Respond to of 1729

Colin......although I am a smart ass..this question is not meant that way.....you used the word...."ordinarily"...are there exceptions. My personal belief was that if I were a professional Poker player I would be subject to this tax....I don't see a big diff between the two. Antique traders who buy one asset at auction with hopes of selling it for more money at a later date would incur this tax...no? If I deducted overhead..tele costs..quote costs..etc....would I not technically be a business? I have no tax background other than playing chess with the IRS. I do not personally deduct any investment related expenses except when I "Margin" permanent life insurance contracts. That interest is then deductible. Shoot1st.........thanks for your prior response