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Financial Planning / Tax Strategies


Subject:  Investment as a Business Date:  10/6/1997  2:45 PM
Author:  HarishChandra Number:  466 of 127754

I am quite active in the stock market beside a full time job. I trade about 4/5 times a month and have a portfolio of over $250,000. This is, of course, a "for profit" activity for tax purposes. As a part of this activity I incur quite a bit of expenses - for subscriptions to several market investment newsletters, an on-line service for technical analysis, AOL for business information and portfolio updates, use of a computer, telephone line etc. My question is whether, and how, I can report this activity as a business for tax purposes. Do I need to incorporate, or create a business entity of some sort, or continue filing as an individual and use Sched. C for reporting this business? I would greatly appreciate your opinion. Thanks.

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