Discussion in 'Taxes and Accounting' started by retaildaytrader, Aug 26, 2010.
Do you fill out the Schedule D honestly?
Dun bii liek Larry Williams, ze lejundery traydor who wes errestid een Aushtrailya fer shcruing w ze IRS un addempping two evayde Enkle Sam w eh 3 millyon doller bayle.
Dude, I am a futures only guy. One of the major perk is that my Schedule D is only one line, no matter how much I trade. 60% of profit is LT, 40% ST. Easy as pie. And the broker reports it all in one line. No date of purchase, no date of sale, no basis, no Wash Sale. Aah! The bliss!
How about the choice:
Yes, I fill it out honestly and will be rolling over 3K in losses each year for the rest of my life.
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