The worldwide casual winnings from playing poker by USA residents are fully taxable income. Not only that, but the losses on the days you don't...
Where did you get the idea that any gains are tax free for USA residents? Also, from a very brief read, it looks like losses from this are not...
10,000 separate transactions is certainly an extremely unique situation. On the other hand 222 pages have a paper cost of about $3.00 at the...
IRS 1099 matching program expects to see you report on form 6781. As to the presentation on your personal tax return, that depends on your own...
Line 2 brings over the total amount of sales and net short-term gain/loss from your stock sales listed on all of your separate Schedule D-1 forms....
Actually the 1099-B is NOT acceptable (and the IRS already HAS the 1099-B anyway). What is required is that all sales made in the year (even...
You may have missed the point - The instructions state (as you've shown above) not to use small fonts on an Excel Spreadsheet (for example) and...
Forgive me, I am missing something. Where is your risk management? All I see here is 100% of invested capital held at full risk.
First off is to know what tax bracket you are in. If the family earnings for the year are $5,000 then you have little tax-wise to worry about....
The items I mentioned in NYC & CA, arrise to a significant level if the LLC has income in a very direct manner. They all have a floor if there is...
Unless you want to play a game of semantics calling it "Income Taxes" -- A Franchise Tax, Franchise Fees, Filing Fees, UBTax or under whatever...
I do not believe that the above statement is correct. Both NY and NJ tax departments (as well as other States like CA) in fact do. See NY form...
Hamlet, sure, if a NYC resident commuted (likely, non-deductible) into a NJ office to work each day (such as if he traded in a trading room,...
First I've ever heard of it. :confused: Look around and I'm sure you will see how you got the wrong information. Well, good luck with it,...
Hmmm. a NJ LLC could be ready in a few days, rather than a couple weeks waiting for NY. But it seems like the LLC operations will be exclusively...
Hmm we'll just disagree on too many issues :) So I'm leaving the wash sale rule discussion, where there a deferral of taxes for one or more...
Of course you're entitled to your opinion, but even if this was the sole effect (it is not), Congress feels even a one year deferral is...
I re-read it again, but don't see what you're getting at. Maybe I'm just having a problem proof-reading my own sentences. :) What looks like...
It has significant tax ramifications, that's the reason for it. Congress did not want filthy rich folk to wipe out their tax bill by merely...
If you do not trade them in all of December 2005 and you do not hold positions in them in any of December, then buying them back in January 2006...
Separate names with a comma.