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Day Trading Debate Continues

BY WESLEY N. COOPER

Please note: This item is from our archives and was published in 2001. It is provided for historical reference. The content may be out of date and links may no longer function.

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After noting the inconsistencies between two articles in the JofA, Oct.00, “Paying the Piper: Some Tax Rules for Day Traders” (page 115) and “Being a Trader in Securities” (page 118), I read with interest the clarification “Day Trading and Self-Employment Taxes” ( JofA , Jan.01, page 80).

While researching the topic, I identified IRS guidance that appears to contradict the perspectives presented in the clarification. The URL for this guidance is www.irs.gov/plain/forms_pubs/pubs/p5500409.htm .

Wesley N. Cooper
Weatogue, Connecticut