Taxation on split profits

Discussion in 'Taxes and Accounting' started by docmccl, Jan 13, 2009.

  1. docmccl


    Looking for a little advice on how to file taxes as a "backed trader". I have someone backing my prop account for a split of the profits. The account is in my name to gain daytrading leverage as a licensed trader. Does anyone have a suggestion as to how handle the taxation of the disbursement since I will only be getting a portion of the profits? My tax accountant hasn't gotten back to me yet so I thought I would try the forum too. Thanks.