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In a message dated 98-03-18 22:48:10 EST, you write:
<< 2. A trader is also defined as primarily engaging in numerous short term
trades throughout the year for their own account and in their own name (as
opposed to investors who trade primarily long term positions). The key
here is FREQUENCY of activity (numerous) and LENGTH of holding period
(short term). >>
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.
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