IRS Trader Status

Shadetree - wrong you are you are. I never got audited in an era when tons of traders got put out of business by the IRS trying to save a few measly dollars. My tax guy was a former IRS auditor and told me what they would be looking for - like daily records accounting for every hour of my day during the year. Like I said - that was before the Safe Harbor which loosened up the trader status. To think you know more than my CPA/former IRS auditor is laughable.

You wouldn't have been audited, either, had you filed with trader tax status. What's laughable is when people who know one person who used to work for the IRS suddenly think they are tax experts. The "Holiday Inn" effect.
 
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