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
