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drobinson wrote:
> me too. At first, when I was doing my own, I did the whole 10 pages of Sked
> D. But now, I have it all reviewed by an accountant. He advised - do
> exactly what Alex advises. just report the account net p&l for each trading
> account with a note to see attached broker statements. IRS agents have to
> be pretty sure they are going to get enough increase in taxes from you to
> warrant their labor cost in going thru all the detail - they know that is
> unlikely for active trader accounts - so they tend to turn a blind eye.
> Note: there is different accounting for hedges and straddles etc which I
> also ignore, and I am assured that IRS agents will also ignore for the same
> reasons.
>
> daver
Hmmm. Do you think that applies to the wash sales, too ?
donc
>
>
> ----- Original Message -----
> From: "Alex Matulich" <alex@xxxxxxxxxxxxxx>
> To: "countachl" <countachl@xxxxxxxxxxx>
> Cc: <omega-list@xxxxxxxxxx>
> Sent: Tuesday, July 22, 2003 9:44 PM
> Subject: Re: Monster Returns
>
> > >Does anyone file returns with 20-30 pages of Schedule D's ?
> > >I figure 1000 trades should be about 30 pages.
> >
> > What I do is put one line in my Schedule D, showing my net profit or
> > loss for the year, with a note to see the attachment. I attach my
> > broker's annual summary for the year. Don't know how kosher that
> > is, but the IRS has never complained.
> >
> > -Alex
> >
> >
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