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2012 taxes from daytrading....shaking here
- Thread starter WorkingSlave
- Start date
unless you have a lot of expensesQuote from comintel:
I would not necessarily use the term "professional trader,"
It is just a "trading business" (or not) and any (real) business can carry out losses. Green says he has never lost a case that met his criteria.......
and are just trading full time
file as "unemployed"
many are these days, and it won't red flag you.
all I was saying, is, there's a lot of idiots out there that think it is a big deal to get qualified as a "Professional Trader"
they are all for the most part just losers who never spent a Sunday on the gov website
If you can't figure that out, then yes, you should file as "Professional"
because you sure as shit don't have any profits
maybe at least you can write off your foolhardy expenses
Taxes make it even harder to justify trading. Not only do you have to beat the odds in "winning", you also pay 30% (if you make enough to warrant trading) to the government.
well trading es, you get the much lower 60/40 split. My first year that was really the difference which made trading slightly more profitable than a real job.Quote from jficquette:
Taxes make it even harder to justify trading. Not only do you have to beat the odds in "winning", you also pay 30% (if you make enough to warrant trading) to the government.