It’s not quite as simple as reporting flips on sched C. It also includes marking securities to market. You have some time. The election for 2013 has to be filed by 4/15 next year.
Are most of your trades stocks? Futures/options/forex get some favorable tax treatment as it is. Unless you spend a ton of money on investment expenses, I’m not sure what kind of tax savings you’d have by putting it all on a sched C.[/quote]
Mostly stocks…. some future…options… … 2012 transactions will be close to 1500, and close transaction volume..well let’s not go there…… Some investment expenses…Some expenses related to technology
.. Also, if run as a business, can’t I do things like a IRA/401k up to $49,000 (minus the $17000 or so from the W2 employer)?
Also, at that point, wash sale rules don’t apply as well, right?
Thanks for spending the time to comment on this, BTW… Financing/accounting clearly is not more area of expertise.
