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My friend is day trader of stocks and have loss of $10,000
my friend is day trader of stocks and have loss of $10,000 or more. Somebody told him that he can claim that loss as ordinary loss instead of capital loss if he file that losses under section 475. How… read more
James Daloisio
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For tax year 2018, I have $50000 net capital loss, I can
For tax year 2018, I have $50000 net capital loss, I can only deduct 3000 from ordinary income; if I make a mark-to-market election for 2019 9 file with 2018 tax return, assuming for 2019 : 1) net cap… read more
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I just started a sole proprietorship company as an active
Hello, I just started a sole proprietorship company as an active day trader in the stock market. From my understanding, my day trades qualify as short term capital gains. I am trying to understand the… read more
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I have been trading options in the stock market with an
I have been trading options in the stock market with an individual account, but have been told that trading under an L.L.C. carries tax advantages. Is this true?… read more
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If you are incorporated as an investment company as an s corp
If you are incorporated as an investment company as an s corp and trade futures and options full time can you use losses against other income? The other income is mainly from dividends. The loss was f… read more
Lev
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I am looking to form a LLC that will engage in stock trading
I'm looking to form an LLC that will engage in stock trading. I would like to obtain an IRS professional trader for the LLC (Gains=Operational Income). Can that be done with an LLC that has 1 sharehol… read more
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I received proceeds/distributions from the sale of a prior
I received proceeds/distributions from the sale of a prior company, in January 2012. I understand the tax implications on this amount. I then deposited the money in a personal Traditional Trading/Brok… read more
WebCPA
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I am an equities trader trying to profit from daily market
I am an equities trader trying to profit from daily market fluctuations. Instead of reporting capital gains and losses on schedule D, would it be better to report it as a sole proprietor as business i… read more
Charles Markham
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In the case of a sole proprietor business, are you limited
In the case of a "sole proprietor" business, are you limited to the $3,000 loss limitation that can be deducted from your income, if said loss is from "hedging activity" to offset price fluctuations o… read more
Lev
Lev
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i have been a currency trader for 8 yrs trading 4hrs per day
i have been a currency trader for 8 yrs trading 4hrs per day with 3 trades a day 5 days a week. Am i able to ofset these trading losses against other income instead of against capital gains.… read more
Lev
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I am a trader in securities. What is the advantage of making
I am a trader in securities. What is the advantage of making the mark to market method of accounting? Can you count all of your losses without limitation of capitol gains? I did not make this election… read more
BK-CPA
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I received a K-1 with an income of 475(f) trading.
I rec'd a K-1 with an income amount for 475(f) trading. How do I report this on Form 1040? Line 10 of Form 4797?… read more
Anne_C
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I have a Form 1065 K-1 that shows a large number for Section
I have a Form 1065 K-1 that shows a large number for Section 475(f) trading gains. Where do I report this income?… read more
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If I wanted to set up an LLC for the purpose of trading securities,
If I wanted to set up an LLC for the purpose of trading securities, would there be any tax advantages/disadvantages in doing so as opposed to simply trading as an individual?… read more
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I created a stock trading LLC in 2008. I research/trade in
I created a stock trading LLC in 2008. I research/trade in the early hours of the day (approx 2 hrs/day) before heading to my normal 40-hrs/wk. Last year, I sustained substantial losses. Doing my 1040… read more
Lev
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How do I get maximum deductions for Capital losses
I had over $20,000 in losses because of stocks and options trading in 2008. I had over $9000 in losses in 2007. I have a full time job with after-tax wages of around $50000 per year. If I carry forwar… read more
Marvin,EA
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I am a self-employeed professional trader, trading put ...
I am a self-employeed professional trader, trading put & call options. I have a net loss from trading of $75000. Because I am in the business of trading, I would like to deduct the losses ( short term… read more
Lev
Lev
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Bachelor's Degree Equivalent
34,004 satisfied customers
I day trade stocks and options. I see, and like, the ...
I day trade stocks and options. I see, and like, the advantages of Section 475(f) election. I understand that I have to make this request by April 17, 2007, for 2007 and beyond. Do I qualify to take t… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
34,004 satisfied customers
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