Recent content by bob2001

One final question. Are there IRS requirement for a TTS to file as a TTS and not as a individual investor. In my case I don't meet the 720 count (like 405) AND I have 1256 instruments (future contract gains), and short term gains, and less than 0.1% long terms gains (from mutual funds). So for...

thanks needed that. One other question that came to mind. Am I wrong if you qualified for "Trader Status" you don't get long term anymore if you sell a stock (example you sold IBM where you owned it for more than a year). What other down side are there?

On 1256 contracts (examples futures contracts) for "investors" the gains/losses are 60% long term 40% short terms with MTM at the end of the year. Want to make sure is it the Same if you are qualified for "Trader Status" For qualified "Trader Status" you still get gains/losses are 60% long...