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- Day trader status, 475(f) Election
Day trader status, 475(f) Election
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Day trader status, 475(f) Election
Day trader status, 475(f) Election
IntuitBettyJo
Community Manager
06-07-2023
12:47 PM
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Released June 2023 -
A taxpayer that actively trades stock may qualify for Trader Tax Status. If the requisite volume, frequency, holding period, hours, and account size are attained, expenses that are incurred are treated as ordinary and necessary business expense under IRC Sec. 162. If the 475(f) election is made, gains and losses shift to ordinary income and the taxpayer is not subject to wash sale rules and the $3,000 loss limitation.
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