IRS denies trader tax status

Quote from tman:

I'm not sure, but the IRS might consider this practice "self dealing". Individuals could use a similar practice to transfer capital into a qualified retirement account.
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how can the IRS prove to a judge you are a criminal if you can show there was a discrepancy between ES and YM that you tried to profit from?Even if it doesnt work its not like its illegal to put losing trades
 
Quote from Daal:

how can the IRS prove to a judge you are a criminal if you can show there was a discrepancy between ES and YM that you tried to profit from?Even if it doesnt work its not like its illegal to put losing trades
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I'm sure there would be no question at all if done within the same account.
 
After reading this i have concerns. If we can't file MTM then we are f-ed. I will call green on monday. I have equities gains futures gains and this news is not good.:confused:
 
Can't you solve this problem by incorporating? Limited liability is kinda essential for anyone using leverage anyway.
 
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