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Gold/Mining/Energy : Daytrading Canadian stocks in Realtime -- Ignore unavailable to you. Want to Upgrade?

To: WhatsUpWithThat who wrote (7132)	4/16/1999 2:29:00 AM
From: russet	Read Replies (1) \| Respond to of 62347

WUWT, you mean with my one dime for a phone call to my lawyer<ggg>? It's kind of a taxing situation <g> if you think about it,....if you were to trade daily and make $100,000 gains in a year,...the government would attempt to disallow your claim for capital gains deduction saying you did this daily, hence it was income,..you are a trader. There are many cases of this in the literature. Of course on the other hand if you do the same thing, claim it as income but claim $120,000 of costs in the year, they will try and disallow the costs and force you to declare it as capital gains. You can not win. You must expect an audit either way. The more successful you are, the more you are punished. russett