Taxes for Traders -- What You Need to Know
Day traders have some unique needs when tax time rolls around.
They must report the specifics of hundreds, even thousands, of trades. And they must do it in a way that satisfies the Internal Revenue Service's qualifications for trader status, which entitles them to tax breaks not available to ordinary investors.
TSC tax reporter Tracy Byrnes, with some help from TSC contributing editor Gary B. Smith, have put together a series of stories to guide traders through the maze.
The stories run through next Monday, and on Tuesday, Jan. 26, Byrnes and trader tax specialist Ted Tesser, CPA and author of the Trader's Tax Survival Guide, will answer your questions on Yahoo! Chat beginning at 5 p.m. EST. Register at chat.yahoo.com. ...
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