Trader Status....or Not

[SeldomSeen]

Quick Question.. Thanks in advance

I trade Futures every day, all day long and I trade Futures only.

The question is, Do I need to or should I apply for 'Trader Status'
by April 15. ?
Is 'Trader status' for stock traders only?

If you have some resource, where I can search this out, and are willing to pass that on. This would be a beautiful thing.

Thanks Much

 

[promagma]

You should qualify, especially is your holding period is intraday.

http://www.fairmark.com/traders/intro.htm

Read all 11 pages

Also google

http://www.google.com/search?hl=en&rls=com.microsoft:en-us&q=trader+tax+status