I recommend for all you self-employed day traders here are a couple tips: -come up with as many expenses as possible :) Or Incorporate as a Sub-Chapter ”S” or “S Corporation” -Then you don’t have to pay Social Security Tax. -Also you become a shareholder of your own corporation. -The only drawback is you are an employee of your own corporation and have to set a salary. I suggest minimum wage -But all net gains then get passed onto YOU as a Shareholder of your corporation.
Hope this helps. It is to late for 2003 but you could file for 2004.