Tax entity....LLC for "trader of securities"

Discussion in 'Taxes and Accounting' started by The_Z, May 9, 2007.

  1. The_Z


    Are all of the day traders here under the tax status "trader of securities"?

    Just would like to know from all of the Elite Traders here how and when to convert from normal "sole proprietor" to the trader of securities?

    Isn't it best to trade under an LLC and elect mark to market election?

    I am thinking this is the best way to go for a serious day trader, right?

    Thanks for your input.