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Strategies & Market Trends : Income Taxes and Record Keeping ( tax ) -- Ignore unavailable to you. Want to Upgrade?


To: Dennis Lee (Hijacked) who wrote (1543)12/2/1998 8:41:00 AM
From: Colin Cody  Respond to of 5810
 
Dennis, For one with a regular job but trade stocks frequently, does he/she qualify for trader status ?

You MAY qualify, that's for you to discuss with your tax planner. But GENERALLY a trader must do trading "all the time" not "part-time" and must derive "most of his income" from such activity.

As you may surmise, that definition seems inconsistent with someone with a "regular job" besides "stock trader".

Colin