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That is why I did not declare "trader status" when trading
futures.
Now with stocks, it seems the advantage of being able to
carry-forward profits still is more valuable than the
"trader status" benefits.
----- Original Message -----
From: "Roger L. Shepherd" <mailrs@xxxxxxxxxx>
To: "Omega-list" <Omega-list@xxxxxxxxxx>
Sent: Monday, July 23, 2001 10:58 AM
Subject: Tax status
> I exclusively trade futures on a short term basis.
>
> Trading futures, you are marked to market at year end for
tax purposes
> regardless of whether or not you elect "trader status".
>
> The biggest advantage of not making the trader status
election is that 40%
> of my gains are treated as long-term capital gains.
>
>
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