tax for futures traders

I learned my lesson back years ago, when the CPA said he would charge me bukoo (that's what we use to call them) bucks to list every trade. And I mean it was 5000 bushels of corn short at $1.60, so that's $8000, minus 5,000 at 1.62 1/4 so that's at loss. And I had hundereds of them.

I quickly realized no CPA cared as much about my money as I did. They were good for normal people, but not for futures traders.

Green is the only guy that has been around for a long time and knows what he is doing. And he doesn't really charge that much.

otherwise, if you can figure out how to trade, you can figure out how to do your taxes.

on a good Saturday in March, you can make more than you use to make on a good Monday in December just doing your taxes.
 
not sure what is so complicated about it. You get a broker statement and you just outline your gains/losses. Seems pretty straightfoward, unless you get into deducting business expenses for 'professional traders'. Even that i assume just boils down to figuring out which expenses are allowed and which are not.

I just wanted to figure out what the tax treatment is for future traders, and from what I can tell it's very favorable.
 
You must log in or register to reply here.
Back
Top