Day traders amd license? IRS day traders - are the taxes tthe same as others?

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Can loses be claimed against income for daytraders?

2007-02-10 11:25:11 · 2 answers · asked by cc 1 in Business & Finance ➔ Taxes ➔ United States

Yes. You report all your income, and all your losses. Your net income is income - losses and all other business expenses.

2007-02-10 11:28:41 · answer #1 · answered by martin h 6 · 0⤊ 0⤋

Day traders are treated the same as any taxpayer.

You can use short term losses only to offset short term gains, not against any other income.

2007-02-10 11:30:18 · answer #2 · answered by Bostonian In MO 7 · 0⤊ 0⤋