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Post# of 6299
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farooq

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farooq

Re: Newly2b post# 4636

Wednesday, 01/11/2017 4:25:18 PM

Wednesday, January 11, 2017 4:25:18 PM

Post# of 6299
If you trade only as professional then you can register as trader and you profit and loss goes to Sch C instead of sch D but wash sale rule does not apply. It also benefit that all trade related expenses are deductible but if you are not retired then probably you pay SS taxes on it up to SS limit.
actually you do not need to report individual trade, you report as average price of buying and selling.
Lot less headache for accounting.
Check with your accountant.

Farooq
This post is for educational and amusement purposes only, and is not to be interpreted as trading advice. Consult your financial adviser before placing any trade.

http://investorshub.advfn.com/boards/board.asp?board_id=4514

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