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>Perhaps there is another key concerning the self-employment tax. I don't
know
>of any professional trader who trades for a living who is not required to pay
>self-employment tax. This applies to those who trade on-the-floor as well as
>off-the-floor. Every tax professional I have ever consulted has told me the
>same.
I would be very interested in seeing the source for their information, ie,
specific IRS Revenue Rulings, Tax Court decisions, district court
decisions, etc. Every tax professional I've consulted agrees that capital
gain income is not subject to self employment tax for a sole proprietor
(active trader) engaged in the business of trading.
Tony Haas
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"...to the last I grapple with thee;
from hell's heart I stab at thee;
for hate's sake I spit my last breath at thee."
-from Melville's Easy Language
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