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

To: robbie who wrote (719)	2/14/1999 8:38:00 PM
From: mod	Read Replies (2) \| Respond to of 1383

Robbie, Traders, as compared to Investors or Dealers, have a unique tax position, with many unclear aspects. I believe Colin was agreeing with my CPA, that Traders may be able to use the Sec. 179 deduction despite showing no income on their Schedule C. The same logic applies as it does to the "hobby loss" rule, where you have to show income in 2 (or is it 3?) out of 5 years in a business you report on Schedule C. Traders never show income, just expenses, on Schedule C (leaving MTM out of it), yet their expenses are not disallowed under this rule.