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Yeah...mtm for several years now. Just cannot figure out the E*trade deferred loss and I f I get to take the deferred loss plus the short term loss or if the short term is the actual loss...E*trade is very confusing in this point. My old 1099s showed the deferred loss as wash sale losses which...

Can someone help me understand how loss reporting works with etrade? I trade through an LLC and last year through a small amount of very bad trades took a loss. My problem is that etrade shows a total short term gain of negative 53K with a deferred loss of 129K on the taxable losses screen. I...

yahoo and google are only for non-commercial use...right?

i am developing a commercial (mobile iPhone/android) app that will need to call an api for prior day close information. I talked to xignite and they offered unlimited access to this historical data but they wanted 5K per year - not really affordable for an app that will be free and most likely...

Anyone have experience with Xignite APIs or NASDAQ on demand? I am building a mobile application that will placed on the app store and android for sale and am having issues understanding how the licensing works. Anyone looked into this?

Thanks Robert. I think I was misunderstanding some basics. For example (using some made up numbers for clarity) if I made 100K in 2013 and was in a 30% tax bracket and had no withholding I would owe 30K in taxes. If in the same year had a LLC with MTM and lost 20K that would reduce my...

Thanks for the reply. I purchased the tax guide on Mr Green's website (waiting on the hardcopy) and also met with my CPA - considering a Green consult as well. I was hoping that my"MTM losses" would offset tax liability but seems my CPA is thinking that the losses only reduce my AGI and they...

If I have/had no open positions at the end of the year does MTM benefit me in any way? From what I am reading it only deals with positions that are open at the end of the year...so if I sell out of my positions almost daily or weekly how would it help? Am I misunderstanding something...

Wondering if there is a way to take advantage of the R&D tax credit for my LLC if I am building my own software. I started off building an automated system to help with my trading...if I pull parts of that system out and place them for sale on the iTunes store can I be considered for both...

What was the minimum account size needed for API access? Was it the standard 10K?

What is the minimum account size for API trading with IB? Is it the normal 10K? I looked at OHouse but they require 30K account min for API access.

For an LLC operating at a level sufficient to file with trader status what is the recommended accounting package? I would not want to track trades...in quickbooks or quicken but need something to track expenses, bills, ... Does anyone use a tradelog quickbooks/quicken combo? Quicken for...

Thanks for the reply. I may be close to the reqs you mentioned but I did not exceed the 1000 trades. Maybe I will go for trader status in 2014...like I said...last thing I need or want is tax trouble...

You are right I am not as knowledgable about taxes for my situation as I should be...consequences of working 60 hours plus a week at my normal job. I haven't done any of the things he recommended - no car leases no renovations...I just created the llc funded an account and made trades... I am...

He is suggesting lots of things...renovation costs to build home office, meetings with him or bankers..., travel expenses (meeting minutes from llc meeting or conference related to trading or running a business), auto leases, lunches where I talk about the llc or my trading, and computers... He...

Assume you are responding to the original poster...My spouse and I made over $500K from our regular jobs and I am looking for a way to control my tax liability. I made 100s of trade this year and he (CPA) suggested the LLC as way to potentially control my taxes. Again if trader status is not...

He is a generalist but I think...and I am just playing with this this year as I am not sure about his knowledge level (he is a new CPA for me) he wanted to use the 3k in losses plus a bunch of additional things (home office, meetings, equipment, cars, ...) as he would with any other business. I...

I guess it depends on your income from your other job. My CPA recommended setting up the LLC as a way to potentially reduce my tax liability from my regular job. The last three years I have ended up with a ~25K tax bill every year. We have very limited deductions due our income level and this...

"No. And how can have any sized loss when you've already stated the 150K came from reinvesting profits I realized from option trades." Sorry maybe not explaining it well. I put 20K into a brokerage account. I invested that 20K into options and made realized profits. Those profits I...

Can anyone clarify for me how to calculate "basis" in terms on an LLC for trading? I do not mean the cost basis of the options/stock purchased but the LLC basis? Where I am confused is this...I lost about 3K in my LLC this year. When I pull a report from Maxit with my trades I have buy to...