Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Colin Cody who wrote (701)	2/11/1999 1:03:00 PM
From: WPC9999	Read Replies (1) \| Respond to of 1383

Question about types of deductions, for schedule C as a Trader. (1)Can expenses for books on trading be deducted? (2)Subcriptions-multi year for Inv Bus Daily, and WSJ, and magazines. Do you have to prorate multi year subscriptions or take it all this year? (3)Purchase of Technical Analysis software? (4)Purchase of things for computer, like more RAM to run your real time online quotes. A new 21 inch monitor. The PC is also used for some personal things, but the add'l ram and big monitor would not have been bought except for trading. Would the monitor have to be depreciated, or isn't there a rule to take it all in this year on items like this? I was still working the first 3 months of 1998. But after leaving I have tried to trade the market since. I believe my short term trades and expenses, like real time quotes, etc., qualify me for trader status. Thanks for your response. Have enjoyed reading through the thread.