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Re: The "Trader Status" audit



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In a message dated 9/16/99 9:13:22 AM Eastern Daylight Time, 
Mmangiafico@xxxxxxxxxxx writes:

<< This is an excellent post, but I have a question for both you and the
 group.  One of the rules of trader status is frequency of trades and the
 other is duration.  Now I am a professional trader, that is what I do, but I
 rarely make more than 2-4 trades a month and I generally hold for 4-7
 days--thats it.  To me (just my trading style group) being in the market is
 the most risky element of trading, I get in and get out according to my
 trading system.
 
 The question is, is the government saying you have to be a commission
 generator qualify as "trader" status.  Why should it matter how often I
 trade, or the duration of my trades.  Warren Buffet doesn't trade that
 frequently???
 
 MM
 
 This is very interesting to me, please feedback with all comments
  >>
when i got audited TWICE
all my cpa had to show is that my  ONLY  income  is from trading
regards
Ben