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Deductions & credits
I currently list my profession as an investor. Not a trader, do not currently claim Trader Tax Status.
Gains and losses on Schedule D. This is my primary income.
I have not written off expenses on Schedule C because I fear (a) it looks weird (b) I will incur social security tax.
You think it is OK to list gains on Schedule D and write off business expenses on Schedule C? Or will this catch the eye of IRS and potentially put me on hook for self employment tax?
Please note I take standard deduction.
‎April 4, 2024
1:02 AM