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

To: jlib who wrote (844)4/26/1999 2:06:00 PM
From: LakesideTrader  Read Replies (1) | Respond to of 1383
 
Wonder if anyone could answer a quick tax question or refer me to someone who can. If a person is considered a "trader" is that person still eligible for a 20% tax on long term capital gains or is all income treated as regular income and subject to the higher tax rate?
Thanks!



To: jlib who wrote (844)5/5/1999 7:53:00 PM
From: Gambit  Read Replies (1) | Respond to of 1383
 
How do you report a short sale to the IRS if the position is still open at the end of the year? An accountant told me that the numbers need to match up for everything sold, and there is nothing on the 1099 to indicate that it was a short.

Is a form needed? If not what do you tell the IRS and where.

Thanks
Adam-


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