Recent content by byeung

In 2010, I traded actively (averaged over 20 round trips per day) from January to April on retail accounts, and then switched to a prop firm from May to December. I did not receive any tax forms from my prop firm, because I only get 1099s if I have a profit. I do have a record of all my trades...

I get a 1099.

My prop firm has this in their agreement: "Therefore, you should understand that any losses on securities transactions in the Company Account, including in the Trader Sub-Account, belong to the Company, and not to you, and so are not available to you to offset any ordinary income or capital...

This is the first year I traded with a prop firm, and I ended up losing money. The firm is saying they only send out documents to report if I have a profit. However, I found the below link, and now am a bit confused: http://www.greencompany.com/PropTraders/TradersTax.shtml#deposits If I...