mickey
Level 4

Hello

One of my clients is a day trader.  This year, in 2020 no less, he made $200K.  He will file schedule C sole proprietor.  He thinks that he doesn't have to pay self employment tax because he qualifies for the Trader Tax Status (TTS).  I did some reading online and am not finding his claim to be true.

Does anyone have any knowledge of this TTS?

Thank you

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