Comments on: How does the IRS treat day traders from a tax perspective? Non licensed day traders who trade commodities/ opt http://investing.hirby.com/how-does-the-irs-treat-day-traders-from-a-tax-perspective-non-licensed-day-traders-who-trade-commodities-opt/ Fri, 10 Feb 2012 00:24:08 -0800 http://wordpress.org/?v=2.8.5.2 hourly 1 By: What is Your Trader Type | Swing Trading Course http://investing.hirby.com/how-does-the-irs-treat-day-traders-from-a-tax-perspective-non-licensed-day-traders-who-trade-commodities-opt/comment-page-1/#comment-31773 What is Your Trader Type | Swing Trading Course Wed, 10 Mar 2010 15:31:39 +0000 http://investing.hirby.com/how-does-the-irs-treat-day-traders-from-a-tax-perspective-non-licensed-day-traders-who-trade-commodities-opt/#comment-31773 [...] How does the IRS treat day traders from a tax perspective? Non … [...] [...] How does the IRS treat day traders from a tax perspective? Non … [...]

]]> By: John W http://investing.hirby.com/how-does-the-irs-treat-day-traders-from-a-tax-perspective-non-licensed-day-traders-who-trade-commodities-opt/comment-page-1/#comment-31695 John W Wed, 10 Mar 2010 00:04:59 +0000 http://investing.hirby.com/how-does-the-irs-treat-day-traders-from-a-tax-perspective-non-licensed-day-traders-who-trade-commodities-opt/#comment-31695 Gains against losses - what do you think you are doing - sitting in a casino gambling. ? What you make is taxable - day traders are no special breed when it comes to the IRS. Gains against losses – what do you think you are doing – sitting in a casino gambling. ?
What you make is taxable – day traders are no special breed when it comes to the IRS.

]]> By: branjo_70 http://investing.hirby.com/how-does-the-irs-treat-day-traders-from-a-tax-perspective-non-licensed-day-traders-who-trade-commodities-opt/comment-page-1/#comment-31696 branjo_70 Wed, 10 Mar 2010 00:04:59 +0000 http://investing.hirby.com/how-does-the-irs-treat-day-traders-from-a-tax-perspective-non-licensed-day-traders-who-trade-commodities-opt/#comment-31696 If you are a day trader who trades only for your own account, your trades will still go on Schedule D and your net profit or loss from Schedule D will still carry over to the Form 1040. Gains are fully taxable and losses are limited to $3,000 per year. The only difference between a day trader and a casual trader is that day traders can deduct, on Schedule C, their ordinary and necessary business expenses, such as the business use percentage of internet fees, home office expenses if qualified, etc. If you are a day trader who trades only for your own account, your trades will still go on Schedule D and your net profit or loss from Schedule D will still carry over to the Form 1040. Gains are fully taxable and losses are limited to $3,000 per year.

The only difference between a day trader and a casual trader is that day traders can deduct, on Schedule C, their ordinary and necessary business expenses, such as the business use percentage of internet fees, home office expenses if qualified, etc.

]]> By: bostonianinmo http://investing.hirby.com/how-does-the-irs-treat-day-traders-from-a-tax-perspective-non-licensed-day-traders-who-trade-commodities-opt/comment-page-1/#comment-31690 bostonianinmo Wed, 10 Mar 2010 00:04:49 +0000 http://investing.hirby.com/how-does-the-irs-treat-day-traders-from-a-tax-perspective-non-licensed-day-traders-who-trade-commodities-opt/#comment-31690 The IRS treats you like anyone else -- you make money, you pay taxes. Short term losses can only be claimed against short term gains. You don't need to be licensed to trade with your own funds. (And you damn well better be licensed if you trade with anyone else's funds!) The IRS treats you like anyone else — you make money, you pay taxes.

Short term losses can only be claimed against short term gains.

You don’t need to be licensed to trade with your own funds. (And you damn well better be licensed if you trade with anyone else’s funds!)

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