My own business is capital market trading in my own account as I don’t trade either for others or provides services in this field.
Q: Most of examples shown by TT is for service part, such as lawyers, accountants etc. My assumption is this trading is SSTB activity, even though I don't provide any services?
Q: Does it matter how this trade or is this trading without 475 election effect answer to SSTB?
I do own partnerships K1 entities. These are public traded pipeline partnerships and I am a passive investor so there is no overlap in terms of business.
Q: Where on Tax return one has to check YES regarding one’s business activity is labelled as SSTB?
I have seen at 2 places.
One is on Sch C, once you fill out business expenses interview then TT ask you if you does this business receive income from specified services (SSTB)?
2nd place is I have seen it on K1 interview almost towards end.
Is there any other place either TurboTax Interview or Forms? or do I have click Yes to SSTB every where like in Sch C and each and every k1 interview or Sch C alone is fine?
