for those filing as traders

deduction amount

  • over 15000

    Votes: 5 45.5%
  • 10000-15000

    Votes: 0 0.0%
  • 5000-10000

    Votes: 2 18.2%
  • 1000-5000

    Votes: 2 18.2%
  • under 1000

    Votes: 2 18.2%

  • Total voters
    11
How are people getting deductions over 15000? The only big deduction item I can think of is Tradestation, which is only 3-4000 a year.
 
Quote from dumbgai:

How are people getting deductions over 15000? The only big deduction item I can think of is Tradestation, which is only 3-4000 a year.

If you trade as a business you can deduct any dedicated computer hardware purchases and desk/furniture purchases. If you have a home office used for the business you can deduct a portion of your house payments, and utilities as expenses. You can take a fellow trader to lunch and pick up the tab as a business expense. You can wrack up expenses daily if you know how.
 
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