back when the nasdaq was going down endlessly, i remember one day on cnbc, maria bartiromo was like, "maybe people should consider shorting stocks then?"
i am pretty sure this was in 2002, but i'd like to know the date.
My question is regarding trader status and state taxes.
My state taxes ordinary income at ~6%. Short term capital gains are taxed ~12%. If you claim trader status, can the short term capital gains be treated like business income and get taxed at the 6% instead of 12%? Thanks