Deducting trading expenses?

[sprstpd]

If you have trader status then your income is not earned income and you do not pay self-employment tax on it on Schedule C.

And as long as you document each account that you have as either MTM or not, you should have no problems separating your trading accounts versus investing accounts.

 

[SideShowBob]

Quote from jcrimmins:

Traders Accounting will probably argue with you about who the authority is. jc

When you publish your own 250 page, somewhat poorly organized adverbook you can become the next authority.

 

[jcrimmins]

Thanks, however tax rules change so often why would you put anything in a book that someone might pick up and rely on months after the rules have changed. You get to talk to me or anyone else for free, and we are up to date!