Frequently Asked Questions - Keyword: Schedule C




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Frequently Asked Tax Questions And Answers

Keyword: Schedule C

10.2 Capital Gains, Losses/Sale of Home: Stocks (Options, Splits, Traders)

Is there any publication that explains the proper way to file a Schedule C as a day trader?

There is no publication specific to DayTraders. But see the Instructions for Form 1040, Schedule D . The section "Traders in Securities" has information for DayTraders.

Internal Revenue Code section 475(f) and Revenue Procedure 99-17 apply only to traders who elect to use mark-to-market method of Accounting.

References:

Publication 550, Investment Income and Expenses
Publication 535, Business Expenses
Form 3115 (PDF), Application for Change in Accounting Method
Instructions for Form 1040, Schedule D
Internal Revenue Code section 475(f)
Revenue Procedure 99-17