To report you day trading activities as a business you will report your income and expenses in TurboTax as a business. Go to: Wages & Income Business Items Business Income and Expenses (Sch C) In this section you can report all of your income and expenses from your day trading activities. What Is a Schedule C IRS form? @bodusale

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bodusale

Level 1

Question

I am a day trader and I am trying to file my taxes to claim the active trader espenses like margin interest, home office, & purchase of computer. need help

Forum|Forum|6 years ago
March 31, 2020
78 replies
575 views

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TurboTax Self Employed Online

DianeC958

Alumni - Intuit

To report you day trading activities as a business you will report your income and expenses in TurboTax as a business. Go to:

Wages & Income
Business Items
Business Income and Expenses (Sch C)

In this section you can report all of your income and expenses from your day trading activities.

What Is a Schedule C IRS form?

@bodusale

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john9yao

Level 4

But the income is the gain in the trading activity, i.e. buy and sell stocks. The is reported in schedule D. I can't double enter my income in Schedule C. So the Schedule C, the income is ZERO.

When the income in Schedule C is ZERO, TurboTax will not allow my home office expense. What should I do? Thanks, -John