What is the exact definition for a day trader?
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Robert Willy
Oct 12, 2017, 11:16:06 PM10/12/17
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Hi,
I did a round trip trading on line yesterday. The broker web page showed a warning message on the screen:
You have 1 round trip trading in 5 consequential trading days. I check it on the web and find it relates to my
IRS tax declaration. My first question is: How many day trades will qualify me as a day trader?
Whether is it counted in one year for 5 day trading?
Secondly, if I was determined as a day trader, I cannot declare $1500 trading loss from the next year income.
I can still carry over the loss to the future? I can make the $1500 trading loss in the following years, it is correct?
Thanks,
I did a round trip trading on line yesterday. The broker web page showed a warning message on the screen:
You have 1 round trip trading in 5 consequential trading days. I check it on the web and find it relates to my
IRS tax declaration. My first question is: How many day trades will qualify me as a day trader?
Whether is it counted in one year for 5 day trading?
Secondly, if I was determined as a day trader, I cannot declare $1500 trading loss from the next year income.
I can still carry over the loss to the future? I can make the $1500 trading loss in the following years, it is correct?
Thanks,
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