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Steve -
Are you sure you can deduct all those expenses? I thought you could just deduct the amount that exceeded 2% of your adjusted gross income.
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Lawrence E. Lewis - lel@xxxxxxxxxxxxxx
Vice President and Chief Technology Officer
Chronology Corporation
-----Original Message-----
From: Steve Schnake [SMTP:schnake1@xxxxxxxxxxxx]
Sent: Monday, July 28, 1997 8:56 AM
To: RealTraders Discussion Group
Subject: Re: Futures business as a write-off
Dan,
I trade from a home office.
You can deduct just about all expenses incurred in your attempt to trade
the markets,( as long as they are tools to help you trade), including data
provider exp, mag. subscriptions(must be relevant), educational materials,
trading software, portion of home expenses(for home office; ask your tax
preparer). You can deduct your computer and maintenance expense, internet
access, if they are used soley for trading(i.e. to gain the knowlege that
influences trading decisions. I mark and itemize all related
phone/fax/download communications with a highlighter and total and file
them monthly.
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