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

To: The Street who wrote (1804)	2/3/1999 9:37:00 AM
From: Leman	Read Replies (1) \| Respond to of 5810

can one just send the irs a copy of the 1099 that the brokerage firm sends you, if not what is the 1099 for

To: The Street who wrote (1804)	2/3/1999 11:23:00 AM
From: Colin Cody	Read Replies (1) \| Respond to of 5810

You might be a trader if: The only thing you do all day is trade for your own personal account You invest based on the technicals and don't buy based on fundamentals You take advantage of the swings in the market You live off of your trading activities Once you are a trader, then you need to elect Sec 475 (a permanent election) to take capital losses and convert them to ordinary losses. New regulations severly limit the availablity of this election, going forward. Colin