Can I Deduct Computer and Software Costs if I Don't Have Trader Tax Status

[Cyrix]

If I don't have Trader Tax Status, can I deduct my trading costs such as computer, books, and network costs against my investment income?
Thanks.

 

[Big AAPL]

no

 

[nooby_mcnoob]

Just open a trading education business and write them off against that instead. Lease the equipment back to you for $200/year.

 

[Scataphagos]

If I don't have Trader Tax Status, can I deduct my trading costs such as computer, books, and network costs against my investment income?
Thanks.

If you want to deduct those items, operate from a "C Corp". (Hoops to jump through, of course.)

 

[Cyrix]

If you want to deduct those items, operate from a "C Corp". (Hoops to jump through, of course.)

That will incur higher costs than the tax % * my computer, because I am in CA.

 

[Scataphagos]

That will incur higher costs than the tax % * my computer, because I am in CA.

Like I said, "hoops". Must evaluate the benefit vs. "costs + hassle" to determine whether it would be worth it.

 

[tiddlywinks]

If you want to deduct those items, operate from a "C Corp". (Hoops to jump through, of course.)

FWIW, tax advantages of futures are lost with a C-corp.