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

To: Shoot1st who wrote (150)	5/22/1998 5:47:00 PM
From: foxtrot	Read Replies (1) \| Respond to of 1729

Hi shooter: If the assets were in your IRA,u buy and sell with no SchD or buy/sell account- ability until u draw it out and pay fed,income tax based on your full year tax re- turn. However, if any one buys/sells stock its reported each year on a Sch D with your F1040. Retired or not,SchD sums all buy/sell/gain/loss for that calendar year. So.....if you(like I am very close to doing) trade the market the broker issues a 1099B at end Jan19xx. The irs reconciles that to your schD to see the trades reported. My assets are in an IRA: I buy and sell. If u are now buying and selling stock you are doing that now. In no circumstance are u subject to the 15.3% self employment tax(both halves of the social security tax because u are not self employed earning that income. Hope this helps.