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You are incorrect. Did you even read the Green Trader Tax link in my previous post? Here is another website on the same topic: http://tradertaxcoach.net/Sole_Proprietorship_2.php In summary, even though you are reporting numbers on Schedule C, it doesn't make that income earned income (if...

Nowhere in that text does it say that you are unlocking earned income by using the Schedule C strategy. Even though you report the income on Schedule C, it is still considered unearned income.

I think you are right. I would claim trader tax status, not form an entity, and not elect MTM accounting. You can write off your margin interest expense on Schedule C. The only tricky part is that having only expenses shown on your Schedule C is a red flag for the IRS. You have to zero out your...

Are you sure about this? From: https://greentradertax.com/business-traders-maximize-tax-benefits-with-an-s-corp/

Only if you elect mark-to-market accounting. Otherwise, wash sales are still applicable. And there are rules on when and how to make that election.

1. No. Unless you create a business entity, the gains are considered unearned income and are not subject to SS and Medicare taxes. (This also means you don't have any earned income so you cannot start a retirement plan if you do not create a business entity.) 2. See 1. 3. It is possible to...

I see no reason why you couldn't do that but it does not seem optimal. For example, you might have to split expenses across both accounts, and so some percentage of the business expenses evaporate.

As HobbyTrading suggested, it is most likely a data issue. Log in to Account Management, select Manage Account-->Trade Configuration-->Market Data. Click on the North America tab. I believe you need to check: US Equity and Options Add-On Streaming Bundle US Securities Snapshot and Futures...

In general, if you have high daily volume and are adding liquidity, then I would say Tiered is the way to go. However, you should probably run some hypothetical scenarios using: https://www.interactivebrokers.com/en/index.php?f=1590 to be sure the pricing works for you. Are you saying you...

In order to get real-time quotes for ARCA you have to subscribe to NYSE ArcaBook which is $11.00 a month for non-professional. I am not sure if this would cover historical price data for ARCA but it may be worth a shot. To be sure, you could ask an IB rep.

If there is a large dollar amount involved (in terms of being able to write off business expenses), you should definitely do a consultation with Green Trader Tax (or similar organization) and see what they think about your situation and whether you qualify for TTS. If it isn't that much of a win...

You need to read all the details on IB's website of the fees involved. Many times Tiered will produce a higher commission than Fixed, especially if you are removing liquidity. There are also some edge cases (like really small share count orders) where Tiered is better than Fixed because the...

Yes, you would classify the adjustment under the same classification because in reality you are affecting the original transaction (by modifying its cost basis). If clarity was not your goal then you would just modify the original transaction. I don't know if there are any negative consequences...

From: https://www.irs.gov/taxtopics/tc429.html It is not really clear, based on this text alone, how much money you need to be trading per year to qualify. I would also argue that a trader who uses a low average dollar amount per trade but trades very frequently is just as much of a trader...

When I look at my Green Trader tax guide, it did include samples. There is Client EX103 that seems to apply to your situation. Maybe I got the deluxe package or something.

From: https://www.irs.gov/taxtopics/tc429.html

Yes, it is possible. Assuming you have achieved trader tax status, figure out your expenses on Schedule C, then transfer enough profits from Schedule D to exactly match the expenses on Schedule C into the other income field. You'll have to make a corresponding entry on the Schedule D. You'll...

I'm not a tax professional, but having trader tax status is a prerequisite for MTM election. But you are not required to elect MTM. Once you have trader tax status you can report business expenses on Schedule C. So you do not need to elect MTM in order to report business expenses on Schedule C.

No.

I agree that there is very little information out there that actually makes sense. Could you please give a link to the youtube video in case it might benefit someone?