Re: I am now classified as a "Securities Trader" j...
rbaker
New Member

Get your taxes done using TurboTax

Yes, when I explored this last year before I officially claimed the designation with the IRS, TurboTax did not treat Security and Option buy/sells as an item that one "inventories of merchandise" that one buys and sells, but rather treated securities in the classical sense.  Trading is buying securities at one price and hoping to sell them at a higher price (buy side simplification) much like of the mythical "widget."

 

I did not see that Turbo Tax could do that.  It automatically stuck them in the wrong place.  I forgot which schedule form that is.

 

I get the download of transactions - and there will be over 1,000 over the course of 1 year.  Where would all this things go?  WHat form?  

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