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

To: LakesideTrader who wrote (845)	4/30/1999 2:02:00 AM
From: Colin Cody	Respond to of 1383

Trisha, A bona-fide trader status taxpayer may CERTAINLY continue to benefit from the 20% capital gains tax rate. BTW, a Trader's gains are NOT normally taxed as "regular income" at any time. A Trader's gains, like an Investor's gains, are taxed as short-term CAPITAL gains, or long-term capital gains. If a trader made a special revocable Sec 475(f) election then the capital gains on her trader securities would no longer be ST or LT capital, they would be converted to ORDINARY INCOME. Her investment securities would continue to be ST or LT CAPITAL items. Colin traderstatus.com