unemployment benefits vs trader status

Discussion in 'Taxes and Accounting' started by swing-scalper, Nov 18, 2007.

  1. I've been actively trading the market for two years with a full time job. Recently I was laid off from my full time job and I've now turned to full time trading. Here is my question:

    Should I apply for unemployment benefits since I was laid off from the job? If so, will this have some consequences since it may potentially complicate my trader status in tax filing? Last year I already filed my tax as trader status. I am an intraday swing-scalper so I traded actively even though on a part-time basis.

    Any good suggestions and/or opinions are appreciated.