How do I fill T2124?

Discussion in 'Professional Trading' started by wahmed, Feb 26, 2008.

  1. wahmed


    How do I file T2124 for a day trading business?
    Has anyone does this in prior years and has knowledge of accepted procedures.
    This is the first year I can say that I should be filing as a business - I did a lot of buying and selling close to 1000 transactions and didn't hold for more than a day or two.

    I had $8000 loss(excluding home base bus. exp)

    This is how I am reporting. Please correct me if I am wrong.

    My understanding is:

    1) Add up all the "sold" orders and report as Sales on line "8000".(In my case 2,702,000)

    2)Add up all the "Buy" orders and report as net purchases on line
    8320.( In my case 2,710,000).

    Please advise if I am doing it correctly.