stech786
Level 1
12-14-2020
07:27 PM
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I am a day trader for stocks. I trade using robinhood and get 1099 at year-end. Someone told me I could deduct my trading stocks related expenses (e.g laptop, home internet etc). the way they told me is that I would open my own LLC and report my income on Sch D as capital gains/loss then enter all of my expenses on Sch C under that LLC? Is this correct? Wouldn't this make my Sch C at loss every year?
I spent 40hrs 4 weekly trading stocks & have over 800 transactions to proof I am a day trader.
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