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Get your taxes done using TurboTax
The other problem with using Turbo tax (I have 2020 Home and Business edition) is that when all of your trading is reported on 4797, you will not show income on your schedule C by default, only expenses. This causes an issue for your home office deduction. Turbo tax will not allow you take the Home office deduction if you show zero income (on Schedule C).
Day Traders are allowed to deduct home office expense, unlike a W2 employee.
‎July 23, 2021
2:40 PM