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I'm assuming your wife is paid through cash there's no record of it. That's a different story. There is a record of options trading and the IRS could easily make you report, but they don't

But your missing the point all they have to do is make you list it on a 1099. THEY DON'T!! WHY?? Like I said when I called the IRS they said it's a tax loophole. I don't know I guess I'll have to talk it over with my account

You guys are missing my point. I know it's illegal, I know I should report. I know I probablly will for fear of tax evasion. But how is the IRS going to find out about it. They have no record of it!!! Even if I get audited there's no record, there's no 1099. The big question is why does...

I'm not saying I'm going to do it, but I don't get it. You know how many millions if not billions of dollars are made on options trading each year. It's impossible for the I.R.S. to keep track of everyone, especially if they have no record of it. I just don't get it. I think it's pretty...

I called the I.R.S. and personally asked myself. They told me it's a loophole. That's coming from the I.R.S. themselves. Now they didn't flat out say no don't pay the tax, but that's kinda what I was picking up.

I haven't filed professional trader status. If you don't have a 1099 and there's no record of it to the I.R.S why pay it.

Hey guys I have a question for you. I noticed that there is no 1099 to be filled out on options trading. The I.R.S. has no recorded of your profits. I called my broker and talked to him and he told me that everybody in here says the same thing. I called the I.R.S. and asked them what...

Looking for a correction in silver. I'm interested in possibly shorting the market. I feel the market may correct and then upward rally. Wondering what anyone else thought

When does that ETF start to trade???

I mean how much higher is this crap going to go!! The price of it has already tripled.

I have a friend that's been trading for a prop firm for about a month. He told me that if things go well within the next couple of months they give him 15 million to trade with. Is this standard for prop firms or is he talking s**t.

No they never asked me. It was three years ago. I've since re established my credit. My credit score is like 700

No way. It may continue a rally but much of the buying is done for now. We should see some correction. Technically we've had five full waves of elliott wave. The price line has shot through the upper bollinger band. I realize that there is a ton of anticipation about the etf fund, but I...

Technically it looks like we are in a downward cycle.

Does anyone think silver will sell off shortly. I think the market is way overbought. I think a corrective cycle should be coming, but when?? Was wondering what anyone else thought?

Was wondering what anyone thought about the rice market. I'm planning on shorting it. Was wondering what anyone else was thinking

Hey Guys, I need some help. I'm about to get hired with morgan stanley as a broker I have my last interview on friday. I went through a bankruptcy three years ago. I haven't told them about this and was wondering if I should. Do you think this will have affect me getting hired?

What about going into serial contracts, contracts that don't have underlying futures contracts. Would you say it's okay to go into a june silver option contract rather than a may or july. Is there enough liquidity in those contracts?

What about selling 3-4 calls out of the money and then buying buying one call close to the money in the same month.

I've been selling naked calls in the past and had great success with it, until recently. It's pretty much bulls**t. I wrote two canadian calls at 93 in June, they're already worthless. I wrote three rough rice calls at 1040 in July a couple of weeks ago and they are at the same price. I...