Re: Tax question - off topic but probably of interest to most

["Thomas Brun" <TDBRUNkkkkkkkkkkkkkkkkk>]

Is this a Futures Trade?  You didn't specify.  If it is a Futures or Futures
option trade, I would suggest that you obtain a copy of:

The Invertor's Guide to the Taxation of Commodity Futures and Futures
Options by Ted Tesser.

 I don't think it will cost more than $10.00.

You can obtain a copy by contacting,

 Center for Futures Education,Inc.
401 Erie Street
PO box 309
Grove City, Pa 16127
(724) 458-5860

There has been a change to the taxing of Futures under the Mark-to Market
provision.  I think this is under a Section 475 transaction election.  By
making this election you will have to petition the IRS to revoke this
election.  This might help you but I would get an expert to advise you.

I am not a CPA but it seems as though it would be worth it for you to pursue
the possibility of reducing your tax....You are talking about a big tax
expense.

Hope this helps,

Tom


-----Original Message-----
From: Dan Dick <dandick@xxxxxxxxxxx>
To: omega-list@xxxxxxxxxx <omega-list@xxxxxxxxxx>
Date: Friday, March 05, 1999 12:26 AM
Subject: Tax question - off topic but probably of interest to most


>Hi folks,
>
>I hope it is ok to ask this question on this forum.  It isn't
>TradeStation related but since we're all investors, I have a question
>that may be of interest to others, too.
>
>Did you ever have a situation where you had a whopping gain right before
>the end of the year and a matching whopping loss immediately afterward?
>We had a spike of about $100k which is a lot for us.  I'm wondering if
>I'm going to be stuck with the taxes.
>
>Thanks and sorry if this is the wrong forum.  I hope this is of use to
>others.
>
>