kirk-ritchie
Level 1
12-07-2019
05:41 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Best Answer Click here
Labels
itonewbie
Level 15
12-07-2019
05:41 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Can you override with the gain/loss without indicating any proceeds/cost bases and refer to a statement attached? I'm presuming your client didn't quite make as much money.
I would surmise that the volume of your client's trading must be substantial and the activity may constitute trade or business. Are these transactions being reported on Sch C, subject to SE-tax, but without cap loss limitation or Sch D?
---------------------------------------------------------------------------------
Still an AllStar
Still an AllStar