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

To: dpl who wrote (507)10/9/1998 11:17:00 AM
From: Colin Cody  Respond to of 1383
 
dpl, Generally a Trader may not (is not allowed to) pay SECA or SS tax on the gains from the sale of stocks.
.
Colin



To: dpl who wrote (507)10/10/1998 5:06:00 PM
From: Kaye Thomas  Read Replies (1) | Respond to of 1383
 
Would you then have to pay SS tax?

At first this was unclear. Congress put a technical correction in the recent tax legislation clarifying that even though the income becomes ordinary income, it doesn't become the type of income that's subject to self-employment tax.

Kaye Thomas, author
Fairmark Press Tax Guide for Investors
fairmark.com


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