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Bruce:
I read a book by Ted Tesser that was helpful : Trader's Tax Survival Guide
(the title was something like that). He has a newer one out now, but I
haven't read it.
The book described some of the requirements needed to be qualified as a
"trader". I took the book to my accountant (at that time I was not a full
time trader) and they looked up the regulations referred to in the book and
then agreed with me. It saved me a lot of money (being able to deduct data
feeds, software purchases, publications, etc).
Good luck,
Jim Hamer
-----Original Message-----
From: bruce guenard <sjguenard@xxxxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Thursday, July 02, 1998 4:30 PM
Subject: Re: income tax on traders
>Gents
> The practical question in my mind is "Is there a web page out there
>that helps the trader understand how to qalify as a "trader" in the eyes
>of the IRS?" (all expenses on Sched C, all profit and loss on Sched D,
>no wash sale rules). I've seen an out of date book on this last year.
>Would appreciate any assistance.
>
>Bruce
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