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Thread: Green Trader Tax

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#13 (permalink)

04-03-2006, 12:38 PM

GreenTrader Tax GreenTrader Tax is offline

CPA, CEO Green & Company CPAs, LLC

Join Date: Mar 2006

Posts: 177

GreenTrader Tax is on a distinguished road

If you have trader tax status - business treatment - and you are partners with your wife in the trading business, you must file a partnership tax return.

This can be a good thing and it helps out tax-wise in a number of ways. Learn more here http://www.greencompany.com/Traders/...husbandandwife.

130 round trip trades is extremely low and you probably don't qualify as a part-time trader. Filing a separate partnership tax return Form 1065 from your individual tax return can deflect IRS scrutiny and that's why partnership returns are good for part-time traders.

You may have the defacto factors needed to do this fix for 2005. We can still help you.

I suggest a 30 minute consultation with me to review it all. http://www.greencompany.com/Traders/...nsulting.shtml

But again, my first thought is you may not qualify.

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