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Trading Software costs for Tax Purposes
- Thread starter GotherL
- Start date
I've read that when reporting any broker fees for the cra you just add it to your capital losses. What about fees from trading software EG. Trade Ideas, TC2000 which are not part of my broker! Are you allow to report this?
Do you qualify for trader status IE 720 trades per year, each trade 31 days or less?
If that included the sell side than yes I probably do qualify for trader status this year. I am just gonna leave it out since I didn't spend much on trading software and I live in Canada so tax rules may defer.
Consult a CPA....
Do you qualify for trader status IE 720 trades per year, each trade 31 days or less?
More needed. 'if' you get audited you need to prove to tend to make a living at this and dedicate a substantial amount of capital and be actively trading 3-4 days per week. I keep records on everything incase I get audited.
More needed. 'if' you get audited you need to prove to tend to make a living at this and dedicate a substantial amount of capital and be actively trading 3-4 days per week. I keep records on everything incase I get audited.
720 trades per year over 252 trading days is 3 trades per day...