| T.R | Title | User | Personal
Name | Date | Lines |
|---|
| 88.1 | Why seperate capital gains/losses from option trading? | VMSDEV::HAMMOND | Charlie Hammond -- ZKO3-04/S23 -- dtn 381-2684 | Tue Mar 03 1992 15:15 | 14 |
| re: 88
> How can I segregate option trading capital gains from other capital
>gains? It is difficult to believe that two Schedule Ds can be filed.
If you are suggesting that dapital gains/losses from option
trading are different for tax purposes thatn capital gains/losses
from other activities then that is news to me.
In other words, I don't know WHY you want to seperate them on
Schedule D.
So if somebody answers your question maybe they'll enlighten us
all on this?
|
| 88.2 | There are schedule D extentions.
| CSC32::B_HIBBERT | When in doubt, PANIC | Tue Mar 03 1992 16:04 | 7 |
| There are extended schedule D forms. They are basically extensions of the
item,dates,buy,sell,gains lines of schedule D. I don't remember the names of
the forms.
Why are you filing schedule C? I don't remember what this one is for.
Brian
|
| 88.3 | | NOTIME::SACKS | Gerald Sacks ZKO2-3/N30 DTN:381-2085 | Tue Mar 03 1992 16:54 | 3 |
| Schedule C is Profit or Loss from Business. I'm not sure if you can even
consider trading options for your own account to be a business. If you can,
you may end up having to pay self-employment tax.
|
| 88.4 | | NOTIME::SACKS | Gerald Sacks ZKO2-3/N30 DTN:381-2085 | Wed Mar 04 1992 11:09 | 4 |
| If you want to call your options trading a business so you can deduct
office-at-home expenses, you can't, according to Publication 17. You
have to use the office for meeting with clients. If you use it just to
read the WSJ and call your broker, you're out of luck.
|
| 88.5 | | TALLIS::KOCH | DTN226-6274 ... If you don't look good, DEC doesn't look good. | Wed Mar 04 1992 12:57 | 14 |
| I want to run my option trading as a schedule C business. I'm
allowed to do this.
There are certain kinds of deductions I can take. They may become
more significant in the future, but that is irrelevant for now.
The business's income or loss is from capital gains.
I have other capital gains and losses that go on Schedule D.
I still don't see how to have non-Schedule C capital gains/losses
_and_ Schedule C gains/losses without filing two Schedule Ds. But filing
two of the same form seems screwy to me.
|
| 88.6 | | NOTIME::SACKS | Gerald Sacks ZKO2-3/N30 DTN:381-2085 | Wed Mar 04 1992 14:21 | 6 |
| re .5:
> I want to run my option trading as a schedule C business. I'm
>allowed to do this.
I'm not trying to give you a hard time, but could you cite a source for this?
|
| 88.7 | Barron's. | TALLIS::KOCH | DTN226-6274 ... If you don't look good, DEC doesn't look good. | Thu Mar 05 1992 09:14 | 7 |
| >> I want to run my option trading as a schedule C business. I'm
>>allowed to do this.
>
>I'm not trying to give you a hard time, but could you cite a source for this?
There have been articles in Barron's about how if your trading
activity is great enough, the IRS will accept it as a business.
|
| 88.8 | | NOVA::EASTLAND | | Thu Apr 02 1992 16:25 | 2 |
|
Only if you make a profit once in a while. See Lassers on this.
|