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Strategies & Market Trends
IRS, Tax related strategies--Traders
An SI Board Since June 1996
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Introduction Compact
I am a fairly active trader 10-20 trades/day. I was taking my expenses (investment subscriptions, Signal, News service etc) on schedule C. IRS has told me that these expenses can only be taken on schedule A after the 2% minimum.
Isn't a trader considered a profession? Has anyone run into this problem before? Any suggestions on this or other IRS related subjects will be appreciated.
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1383Options: Several Strategies Can Make Trades More Tax-Efficient By MOHAMMED HADISam Citron-1/7/2006
1382so what did you lose it on?Casaubon-11/20/2005
1381<i> But, $31K tuition deduction most likely will raise a red flag waving aSmiling Bob-8/21/2005
1380$31K tuition training course on trading? That's huge. I'm curious what cGeorge8-8/21/2005
1379Hi, I just spent $31,000 to learn how to trade in stocks. Is the tuition for tatony_b-8/20/2005
1378I asked a few questions on another thread: Any ideas here? Message 19786200 MesIra Player-2/10/2004
1377I've never had a short that I carried from one year to the other. That is moAt_The_Ask-4/4/2003
1376Sounds like a good way to account for any discrepancies. I'll include a listm-top-4/4/2003
1375The issue isn't solely whether you will be ok. If your return does not matchGorak Shep-4/4/2003
1374Thats my thinking too so off it goes ...m-top-4/4/2003
1373Like I said. If your doing your schedule d and listing your transactions singly At_The_Ask-4/4/2003
1372I have used that approach for several years now with no problem. I simply write m-top-4/4/2003
1371Really? So am I correct in assuming that the year end aggregate purchase and salm-top-4/4/2003
1370I've heard of that too but don't think I wan't to try it. Although iAt_The_Ask-4/4/2003
1369What the IRS cares about is that the total sales that you report matchs the totaJon Tara-4/3/2003
1368I've never spent much time comparing my total sales to my 1099. I usually foAt_The_Ask-4/3/2003
1367Thanks At the Ask, I figured as much. I must have some errors in the calculationm-top-4/3/2003
1366Whatever your 1099 says is what you should report. If you are working from your At_The_Ask-4/3/2003
1365Anyone Please!! A question regarding 1099's. I am having difficulty making m-top-4/2/2003
1364Thanks Dan.At_The_Ask-3/31/2003
1363Commissions are part of the cost basis of your trade. If your broker includes cDan Duchardt-3/31/2003
1362Are the commissions deductible and how do I enter them? tiaAt_The_Ask-3/30/2003
1361Here is a typical and terrible explanation of the wash sale rule from Andrew Leckendall harmon-12/22/2002
1360I.R.S. Says Offshore Tax Evasion Is Widespread nytimes.com [[Do We All Aspire Raymond Duray-3/26/2002
1359Liminous, Click on Colin's name and follow the link to Trader Status.com DDan Duchardt-10/29/2001
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