@Opus 17 wrote:
If someone is a trader, can they deduct capital losses in excess of $3000 or is that still the limit?
No, that's the limit for investors or traders unless a trader makes a mark-to-market election in which case all gains/losses are treated as ordinary income/loss (i.e., no capital gain treatment).
Here is an IRS tax topic: https://www.irs.gov/taxtopics/tc429
Note that Schedule C is still used for traders to report their trading-related expenses, but they report their gains/losses on Form 8949/Schedule D.
