for those filing as traders

Discussion in 'Professional Trading' started by dumbgai, Apr 8, 2008.

deduction amount

  1. over 15000

    5 vote(s)
    45.5%
  2. 10000-15000

    0 vote(s)
    0.0%
  3. 5000-10000

    2 vote(s)
    18.2%
  4. 1000-5000

    2 vote(s)
    18.2%
  5. under 1000

    2 vote(s)
    18.2%
  1. dumbgai

    dumbgai

    how much are you deducting on this year's schedule C
     
  2. dumbgai

    dumbgai

    How are people getting deductions over 15000? The only big deduction item I can think of is Tradestation, which is only 3-4000 a year.
     
  3. If you trade as a business you can deduct any dedicated computer hardware purchases and desk/furniture purchases. If you have a home office used for the business you can deduct a portion of your house payments, and utilities as expenses. You can take a fellow trader to lunch and pick up the tab as a business expense. You can wrack up expenses daily if you know how.