I found some more info on the subject
If the taxpayer follows King and similar cases, gains and losses may be reported on schedule D and self-employment taxes are not relevant.
http://www.journalofaccountancy.com/Issues/2001/Jan/DayTradingAndSelfEmploymentTaxes.htm
Hello All
I have a tax question for you guys with experience in this field. I lease a seat on the CBOT and 2012 was my first year trading for myself. I have all my taxes squared away, but there is something I just can not figure out. My CPA is saying I owe self-employment taxes, but I have...