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In a message dated 98-03-18 10:38:11 EST, you write:
<< What are the benefits
of qualifying for trader status? >>
You should be aware that there is also a potential major COST of being
classified as a professional trader. If you are truly a professional and if
you are good at what you do, then you will have big time profits. However, as
a professional, you will have to pay social security tax on those profits! As
an investor, there are no social security taxes on those profits.
Unless your expenses are huge, or your losses are greater than $3,000, I doubt
most people would want professional trader status.
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