UHC dropping HRA commish for 2025 except for SNP which is lowered to 50.00 i

[T Sparks]

First of all it's Mark to Market, not market to market. An actual professional trader would not make that mistake.

Second, to actually qualify is the extremely difficult. It is the hardest qualification in the IRS tax code. And is us nearly impossible to qualify for if you have another business. There are plenty of court cases to prove this.

If you are using section 475, you are probably doing it without the blessing of the IRS, which means your taxes are a time bomb waiting to happen.

When you suddenly stop posting on these forums, we will now all know why.

I don't quite understand, Is he day trading DSNP?

 

[rmhaire]

I don't quite understand, Is he day trading DSNP?

He's a day trader but he does it mostly at night.

He taught Warren Buffet how to do it.

 

[DonP]

First of all it's Mark to Market, not market to market. An actual professional trader would not make that mistake.

Second, to actually qualify is the extremely difficult. It is the hardest qualification in the IRS tax code. And is us nearly impossible to qualify for if you have another business. There are plenty of court cases to prove this.

If you are using section 475, you are probably doing it without the blessing of the IRS, which means your taxes are a time bomb waiting to happen.

When you suddenly stop posting on these forums, we will now all know why.

Thats were you know nothing . You need to look up the irs definition of a professional day trader . It's substantial activity and time . I day trade futures at night a lot and heavy vol. Plus i day trade stocks during the day the first 30 mins .I've been filing as 475 trader for 26 straight yrs and never an issue . Stay in your lane as you know zip about this .

 

[axeman462]

Thats were you know nothing . You need to look up the irs definition of a professional day trader . It's substantial activity and time . I day trade futures at night a lot and heavy vol. Plus i day trade stocks during the day the first 30 mins .I've been filing as 475 trader for 26 straight yrs and never an issue . Stay in your lane as you know zip about this .

actually I am very much in my lane.

The difference is, I don't have to try and have a d!ck measuring contest to prove anonymous people on the internet of my worth.

BTW, more proof that you are lying. Section 475(f) is designed for equity traders.
Futures already have a benefited tax structure of 60/40 capital gains rates, unless maybe you are taking big losses.
Furthermore, first 30 minutes of trading equities would undoubtedly not be enough to claim TTS, especially if you are selling insurance on the side.

But it sounds like you are trying to be a full time insurance agent, full time futures trader, and full time tax accountant. I do not believe for a second you have been doing all this for 26 years successfully. If you are actually claims Section 475(f), then your taxes are, without a doubt, a time bomb waiting to happen.

Finally, there are plenty of court cases that prove time and time again that "traders" who also have full or part-time jobs do not qualify for Tax Trader Status.

That all being said, your posts about day dreams of being a hot shot insurance salesman-by-day and day trader by night are certainly entertaining.

Keep it up!

 

[DonP]

actually I am very much in my lane.

The difference is, I don't have to try and have a d!ck measuring contest to prove anonymous people on the internet of my worth.

BTW, more proof that you are lying. Section 475(f) is designed for equity traders.
Futures already have a benefited tax structure of 60/40 capital gains rates, unless maybe you are taking big losses.
Furthermore, first 30 minutes of trading equities would undoubtedly not be enough to claim TTS, especially if you are selling insurance on the side.

But it sounds like you are trying to be a full time insurance agent, full time futures trader, and full time tax accountant. I do not believe for a second you have been doing all this for 26 years successfully. If you are actually claims Section 475(f), then your taxes are, without a doubt, a time bomb waiting to happen.

Finally, there are plenty of court cases that prove time and time again that "traders" who also have full or part-time jobs do not qualify for Tax Trader Status.

That all being said, your posts about day dreams of being a hot shot insurance salesman-by-day and day trader by night are certainly entertaining.

Keep it up!

Correct 475 mark to market is equitys . And thats why i trade heavy stocks in first 30 mins . 1256 tax treatment is also index options like the spy and qqq's . Ive shown a few of ny account statements . Im one of the orginal soes bandits in the 1990's with Datek online . They asked me to be in the book " electronic day traders secrets " and i declined in 1998 . My cpa for 17 yrs was Robert green who was the orginal day trader cpa . The key to doing daytrader taxes as a sch c is foot notes . Theres no ss taxes on day trading income . Again sure the irs could say im bot a day trader as i have massive income in ins . So far they haven't .

 

[MedicareWAA]

He's a day trader but he does it mostly at night.

He taught Warren Buffet how to do it.

This is so good!

 

[MedicareWAA]

Correct 475 mark to market is equitys . And thats why i trade heavy stocks in first 30 mins . 1256 tax treatment is also index options like the spy and qqq's . Ive shown a few of ny account statements . Im one of the orginal soes bandits in the 1990's with Datek online . They asked me to be in the book " electronic day traders secrets " and i declined in 1998 . My cpa for 17 yrs was Robert green who was the orginal day trader cpa . The key to doing daytrader taxes as a sch c is foot notes . Theres no ss taxes on day trading income . Again sure the irs could say im bot a day trader as i have massive income in ins . So far they haven't .

Don, just stop talking. As much as we love watching this, you just keep embarrassing yourself with everything you say. And how you spell it …

 

[DonP]

Don, just stop talking. As much as we love watching this, you just keep embarrassing yourself with everything you say. And how you spell it …

Never will i stop !!!!!

 

[Russ]

Don't understand....Don P.....how you have 24 hours in a day to do all that you do.

 

[DonP]

Don't understand....Don P.....how you have 24 hours in a day to do all that you do.

I trade 30 mins in the morning 2- 4 days a week . I rarely leave the house for ins before 10 am . That all changes aep as I'll trade little .Then maybe a few days a week for an hr ot so at night depending on action . If there's heavy action like the beginning of August when we collapsed I might day trade a few hundred times the whole day . Again 95% of my money in longer term stocks