Do you write off your expenses on Schedule C? The IRS instructions on this are so confusing that I can see why there are so many differing opinions... Based on the instructions: You put your gains and or losses on Form 4797 including unclosed positions on 12/31. You write off your expenses on Schedule C. Anyone doing this? Any IRS problems? I assume you can thus avoid writing every single trade into a Schedule D. This is the way I see it.