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That is what I wanted to hear Ben, thanks very much
MM
-----Original Message-----
From: Proffittak@xxxxxxx
To: Mmangiafico@xxxxxxxxxxx
Cc: realtraders@xxxxxxxxxxxx
Sent: 9/16/99 10:47 AM
Subject: Re: The "Trader Status" audit
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
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