Interesting article, especially for beginners. http://www.thestreet.com/_htmlbtb/funds/taxes/10276411.html
Good to know - but Gainskeeper makes all those headaches go away..... It lets me know I'm down 50% this year, thanks fo aapl and goog imploding.......
so-what is the benefits to declare yourself a trader? ability to write off unlimited amount of your losses? then they should name this election not a trader, but -bad trader(aka LOSER) and if you elect yourself as trader and did not qualify on next year-then what?