Does Swing Trading Qualify As "Trader"?
- Thread starter igum
- Start date
i would think you would need to trade at least once a week to have a chance to pull it off. if you do 2-3 should work ok if you dont have another job.
You probably could if you show you made 2 or 3 trades a week,
week, after week, after week. But, if you had periods of a
month or 2 where you didn't make any trades at all, you might run
into some problems.
Here's a book that might answer your questions, better.
www.esignal.com/exchange/v19_03/investors_library.asp
and a web site that has some good info...
www.greencompany.com/tradersarea.htm
week, after week, after week. But, if you had periods of a
month or 2 where you didn't make any trades at all, you might run
into some problems.
Here's a book that might answer your questions, better.
www.esignal.com/exchange/v19_03/investors_library.asp
and a web site that has some good info...
www.greencompany.com/tradersarea.htm
The IRS test are extensive and essentially require that trading be your full-time avocation. If you are employed full time in another job they will probably disallow any deduction. The www.greencompany.com site does have some good info on the subject.
So, I can't elect mark-to-market with a full time job?
That means, if I lose more than $3000, it won't be deductible, right?
I did think, however, that the IRS allows investment publications and some costs associated with those investments (fees, etc.) to be deducted, even if held short term.
That means, if I lose more than $3000, it won't be deductible, right?
I did think, however, that the IRS allows investment publications and some costs associated with those investments (fees, etc.) to be deducted, even if held short term.