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

To: Colin Cody who wrote (313)	5/23/1998 3:19:00 PM
From: Monty Lenard	Read Replies (1) \| Respond to of 1383

Colin, here is one that may be of interest to those who have another job and want to elect trader status. I have not read the full case-this and do not know the full facts. This is just an excerpt, but may be some ammunition. <ggg> FWIW Monty Traders A taxpayer, an auto designer, traded in silver futures and stock through a broker. He had no customers regularly purchasing futures or stock from him, he was not licensed to sell securities, and he was not a member of an exchange. Therefore, losses sustained were capital because he was treated as a trader. 113 Kozikowski v Commr, TC Memo 1986-364, 52 TCM 148, 86,364 P-H TC Memo. Note: The bold print was MINE only to help those reading this!

To: Colin Cody who wrote (313)	5/23/1998 4:57:00 PM
From: Adivino	Respond to of 1383

Colin thanks again, But sorry I can't see myself in a Mercedes, I will settle for my Cadillac Eldorado Touring Coupe. I have owned BMW's, Porsches and a Lexus But this Cadillac is the best handling and reliable car I have ever owned. But to get back to the topic, Thanks Colin. I am going to see what my CPA has to say and go from there. I really appreciate all the information here. Thanks Again PS: Drive a Cadillic Eldroado Touring Coupe, If you are my age you will feel like a 16 year old and wish you had that pretty girl next to you again.