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.
tax reporter Tracy Byrnes, with some help from
contributing editor Gary B. Smith, has put together a series of stories to guide traders through the maze.
- Trader or Investor? The IRS Wants to Know We examine Internal Revenue Service regulations and case law to determine exactly what separates traders from investors.
- How to File a Return That Tells the IRS You're a Trader We walk you through the issues and tax forms you'll encounter come April 15.
- Trade-Tracking Software: No Package Is Perfect How do you keep up with hundreds or thousands of trades a year? We pass along reader feedback on the best software.
- Can Traders Use TaxCut and TurboTax? This special edition of Byrnes' regular Saturday Tax Forum deals exclusively with trader tax issues.
- The Best Way to Handle Your Taxes TSC's Technician's Take columnist Gary B. Smith weighs in with his own tax strategy.
- Yahoo! Tax Chat Transcript Byrnes and trader tax specialist Ted Tesser, CPA and author of the Trader's Tax Survival Guide, answer readers' questions on Yahoo! Chat.