Taxes And Day Traders
As odd as it may sound, the tax code is fairly vague on the issue of taxes for day traders versus investors. Alas, the IRS has instituted a more definitive view on the subject. If you are unaware of the differences, your tax return filings could end up getting you in a hot spot.
Just so we understand what is being discussed, day traders and investors are two birds of a feather. A day trader spends their days trading stocks in short time increments. They are looking to profit from quick movements in stock. They tend to win big and lose just as big. Investors, on the other hand, tend to dump money into an account a once or twice a month. They are buying stock with the idea that it will gain value for them down the road in a few months or years.
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