Ladies and Gentlemen, I was wondering if anyone has any information on trading while on unemployment. I have recently been laid off work and receive unemployment, in addition I actively trade. My question is "Does trading conflict with unemployment?" If I am profitable should I notify the unemployment agency to avoid any potential penalties? What if I am profitable now, but will lose it all by the end of the fiscal year?
Most states have a rule that you must be available and actively looking for work to qualify for compensation. Trading gains are "unearned income" and should not, by itself, affect unemployment benefits. If you claim trader status on your taxes, that might look like you're trying to run a business which would disqualify you from unemployment benefits.
LOL ... let me re-phrase to encompass a bigger problem ... ? "I was wondering if anyone has any information on trading while on unemplyment or living at the Salvation Army, and getting no pussy for years?" http://www.today.msnbc.msn.com/id/38410209/ns/today-the_new_york_times?GT1=43001